Home > Uncategorized > 4/21 Trading Recap

4/21 Trading Recap

Today was as much about the trades I took as the ones I didn’t take.  One thing I noticed well today was that the morning rally occurred on really below avg volume but when we sold off that was on avg to above avg volume.  The mkt did subsequently tank (and then rally) but it was not exactly smooth on the way down.

Trade #1 – Not sure I had a good reason to skip except volume was low on the the rally and then picked up (relatively) on the downside.  The 15 min chart had also already give 2 “almost” signals that worked out really well.  What was working for the trade was that the TF had just crossed into oversold territory on the 5 min.  Also, in my mind I contemplated that the signals had worked out so well on the first 2 almosts that maybe the third signal would be money too.  The buy was 1203.75 and the high was 1206.  That’s +2.25.  Had I traded this mechanically that’s a $300 loser.

Trade #2 – Long 1199 on a 100% extension of the IB.  Also the ES was indicating volume exhaustion spikes.  Took off at 1202 for +3 pts but could have gotten another 3 pts.

Trade #3 – Skipped a short signal on the 5 min at the end of the day.  This was after a strong push down and equally quick snap back.  The trade never got into positive territory so it was a good skip as it also rallied essentially into the close.

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