Monday, January 10, 2011

Ok, first day back at the desk for 2011. Opened up the charts and saw that trend was down. I was waiting for the figure to break, and when saw it did break and the retracement held below the support level, I entered and took my profit as it was breaking the previous low.

Second trade was a simple green trade and a higher low.

Third trade was with the immediate trend, and lower lows forming around the figure.

Forth trade I was looking at entering in the highlighted area, but the small up and small down had me uncertain, so waited for some sort of direction, the break of the highlighted area and then the retracement holding gave me good reason to enter long coupled with previous day's lows levels. Took profit as soon as I saw exhaustion because it was counter trend.

Fifth trade was a stupid trade that I should not have taken, but did and closed for a small loss

Sixth trade was basically momentum play as the whole move looked like it was targeting the lows for the day around 75.

That is the first day done. Am relatively happy with the outcome.


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