Selling on Indices is pretty much established now so unless you are already in swing shorts, entering positions now based solely on the targets detailed in this post is probably not worth the risk for the small potential reward.
However, if you are already positioned here are some levels that will
I'm really sorry to say that yet another Week has passed with very little in the way of updates from me. I'm starting to become unsure as to why I'm not seeing the trading opportunities that were plentiful throughout January to March. I've started to question whether I'm lacking in confidence, missing good set-ups, or there just isn't anything that can be deemed high probability. There have been a lot of moves that looked obvious after the event, but picking the good ones before the event has been particularly difficult and hence I've barely collected any pips all Month.
Only 3 trades were taken over the last Week, a DOW short from 13,010 which wasn't intended to be a swing trade but ended up as a 3 day hold and delivered a 186 points profit, a Cable short that was stopped out for a 35 pip loss, and finally another attempt at shorting CAD:JPY which has remained a
I'm currently Flat Indices having held long positions throughout much of today but with little going on in the way of new swing set ups I thought it worth sharing a couple of DOW and FTSE charts to give an idea of the type of things I watch intraday ahead of entering Day Trades.
Because this Blog is predominantly a way to
Just taken a DOW long based on the hourly channel detailed in the chart below. A 3rd touch of a channel like this one over a short period of time (7 trading days) actually fails more often than not, hence not entering right on the channel itself but waiting for confirmation of support. Also worth noting the channel coincides with
Here is a brief example of a DOW day trade I took tonight and it should give you a better understanding of the simple way I approach day trading.
The way I trade and the strategies I use tend to relate to market volumes and volatility and because of this some of what I do is
A quick update on the projected channels outlined for both FTSE and DOW ahead of today's session.
Fortunately the FTSE channel did hold overnight and I exited the position today on the cash close at 5560. The updated chart shows that this evening's
As you will know by now, in view of the low volumes and erratic price movements across many Index's I've decided to concentrate on a little day trading during this week.
As it's now after hours and price can pretty much do it's own thing, I've just entered a small stake buying FTSE at this
Whilst volumes are low this week I've taken a break from hunting out new swing trades and will be spending my time day trading Indices.
Here follows my current trading map of the DOW:
On 4 hourly I have a line at 12,322
Absolutely no idea why I've put this line there and no idea why I've only got it on the 4 hourly time frame. Whatever made me put it there in the first place (a long time ago) would have been a good