Thursday, September 29, 2011

DJI30 short

Trade from today. Before that I took 5 (!!!) wrong entry's and closed it with small losses. Good thing that I made some profit on the last one, big move down.

I wasn't sure about direction. The answer was on 1 minute chart, where price was below 200 sma and was strugling to breake above it.

first the view on m15:


Entry on m5, where macd turns negative!!
m5:


And how the entry was on m1:


The move ended on 200% extension and there was strong bounce back. I think that's because of 50% fib from higher timeframe, which was in the same place.

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