Monday, July 19, 2010

7-19-2010 One Trade One Winner

Good Afternoon Traders,

I wanted to make a quick post before I had to take my little one to the doctor. I was looking for the market to be churning around down here between 1060 and 1068. After the first strong bounce off support I looked for a pullback in price. When we got a nice one at 11:45 am est, I waited for the stochastic to cross and sine wave to paint blue and entered the trade. I also "tweeted" the trade on my twitter account @infected1172. since it was counter trend I use a smaller profit target, usually 6 ticks. When the stochastic looked to be forming a divergence I got out with +5. So 5 ticks on 2 lots = $125.

I will be back this afternoon after some errands. Might not make any more trades If my daughter still isn't feeling well. Look for an update tonight with key support and resistance levels along with a few trade ideas I'll be looking for tomorrow. Thanks for reading.


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