Friday's Trade Setup

Today's trade was not quite convincing but the price action and the double bottom pattern made it possible to place a trade.

The double bottom is recognizable within the support level (S1).

The entry is at the arrow below for a long trade when the ma's crosses over.

The exit is at above the pivot line when it starts to lose its steam.

Making a trade when the market is like this especially it's a Friday needs full concentration in watching the price movement.

Price action is all that matters and some kind of precise trading experience.

 

 

Best Trade Setup

The market made a nice move today and the best trade is to buy in the consolidation from the open.

Exit is at the arrow above.

Best trade setup!

Tuesday's Trade Setup

The market gap up today in the open only to lose its strength for the profiteers trying to make money early on.

The best entry is from the pullback below when the ma's cross over opening for a long trade.

The exit is at the arrow above just below the R2 level.

Wednesday's Trade Setup

Not able to post some trade setups the past week for quite busy analyzing trades and other market indexes.

Though there are some breakouts the past weeks but if you are not in tune with the market timing, you will get chopped.

That's why in trading, it is important that timing plays a big part in capturing the main ingredient.

Otherwise, you will end up eating the dust and just trade for the sake of trading.

You will lose your mental capital that leads to impulsive trades.

For today's setup, the market open up high only to lose its strength after an hour or so.

It made a dramatic reversal from the support (S1) opening a long entry from the pivot line.

Exit the trade before the close for a nice trade.

Today's trade needs a lot of patience in monitoring the entry for it became choppier in-between R1 and R2 (the resistance levels).

Tuesday's Trade Setup

The market drops hard today due to unfavorable manufacturing report.

After the sell off, the market made a turnaround and recovers.

The best entry is from above the support when it consolidates.

As of this posting, the market is still recovering.

Exit the trade at your target price.

 

 

 

Friday's Market Trade

The market made an upside move in the overnight session only to make it choppy in the regular open.

Not quite a tradeable market but a scalping system of trade.

Notice the pattern, it's like a "sling shot" (y), seems trying to send a message that the market might hit/attack you if you are not ready trading Friday's market.

Lots of volatility, partly because of Bernanke's Jackson Hole meeting.

Was able to trade this one after 10:00 am. ET but my first trade flopped, got stopped out.

Able to recover after then when it consolidates and the price action turns favorable.

Exit my trade (in-between the breakout) for I profess Bernard Baruch kinda' trade, "I make my money selling early"!.

After that, the market turns choppy till the close.