Journal Entry (8/1)

4 out of 4 trades. Here is how I could’ve perfected my last trade and a 5th that I didn’t take because it was impulsive.

(Short sale positions) Fading the rally in cocoa would have been more profitable than fading after a cross below prior close. Cocoa is still fundamentally and technically bearish after an inside day. (4am morning tiredness) I should have noticed that the rally was without volume and the RSI @ overbought condition failing to push prices up further (1-min bar). Be nimble!

(No positions) Had no set up for the Euro so I didn’t take the trade. Could’ve been profitable.

(No positions) Unlike the EU PMI economic release, the UK PMI slipped below market expectation by 1. However, the market reacted within the first minute and immediately immediately found a support base.

Advertisements
This entry was posted in Journal Entry. Bookmark the permalink.

One Response to Journal Entry (8/1)

  1. lima99us says:

    It helps to label everything esp. area of confluence (with a circle).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s