need to see dentist today, no trading.
This is one of those days that I traded with mobile device, and now I'm shorting the eur/usd with stop at 1.2350, it looks like to be taken out anytime soon.
Update1: Still not stop out, this is interesting, dow and nasdaq are rally, how come eur/usd is not moving up?
Update2: The stock market rally today, DOW SPY up 2%+ and SPY break 1110 key level close at 1115.
1: I didn't follow the plan (which was no trade today). I jump in one trade at 20 and stopped out at 30 on a DIV setup. This is OK setup, but with realize that I need to go out for 3 hours and still take the trade is not acceptable.
2: I took another 2 blind short with my iphone, one at 30 and stopped at 40, one at 42 and stop set to be 50, and now still holding it. I will continue to hold this open position, target at 2300 level.
The result is, I had 3 unplanned trade and 2 losers already booked, hope the last winner can take it back.
Hi RCM,
ReplyDeleteI'd like to know how you can identify the trend using multiple time frames. Tks in advance
DE: That's the million $ question. I got into this multiple time frame way of looking at the chart from following Brian at alpha trend before he goes subscription base. There is clear way of definition on current trend, higher highs and higher lows for up trend. But it won't provide any more information about what will the trend continue or not. The benefit of looking at multiple time frame is, I can get a better picture from 3000 feet down to the ground and knows where is the bigger trend and where is the key support/resist point. But most of the time, market is not trending, like today.
ReplyDeleteYes, last couple days I losing grip with currency. My setup busted out lots of time. Crude Oil seemed more familiar nowadays. Typical washout SL every day
ReplyDeleteTks for your answer...
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