Friday's market was slow, and was not that inclined to put (a trade) nor participate but the price action and some recognition of the pattern in the Gold last Friday's session 'urge' me to place a small trade and test the market. First entry was a failure and got stopped for my stop was too close/tight. Did not bother to place another trade for it seems the market was not that favorable. After some few hours of watching the market action, decided to place one more try for I am quite positive with my conviction that there is this pattern that is emerging that might turn into a good setup. The overnight session formed a deep cup (or a 'w' like), and a 'triangle' like formation (as shown) led me to place a small trade. I'm actually anticipating a cup with a handle formation here, but it fails. Maybe by Monday's session the handle will materialize, let's see.
Entry: 12863; 9:35 am.
Exit: 12892; 11:02 am.
Gain: 29 points x $10 = $290.00
Note: Able to recover the first loss of 10 points ($100)
(below is copy of real trade)
Order Book
Filled
Snapshot
15 Nov 2013 9:05:15 AM
Buy/Sell
Volume
Fills
Submit Time
Time
Account
Market
Sell 1\1 1@12892 11:02:29.842 AM 11:02:29.855 AM traderdg1 SIM:Gold Dec13
Buy 1\1 1@12863 9:35:06.006 AM 9:35:06.105 AM traderdg1 SIM:Gold Dec13
Sell
1\1
1@12859
7:49:18.090 AM
9:25:07.217 AM
traderdg1
SIM:Gold Dec13
Buy
1\1
1@12868
7:48:12.706 AM
7:48:17.430 AM
traderdg1
SIM:Gold Dec13
Addendum: My decision to exit at the upper arrow was because of that 'indecision' bar, and the price action from this area at that time is not convincing from my standpoint. Other than that, the level of resistance is noticeable.
20131116050721.png)
