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.

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One Response to Journal Entry (8/1)

  1. lima99us says:

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

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