Newbie Trader's Lounge

Short on the rally, going the short-term downtrend. But 830 support strong here, and rally didn’t go lower than last low, exit at 832.2.

Same as yesterday, in the 825-838 range. Short the resistance and buy the support. Following the trendline channel here for entries.

Same as yesterday, nothing much has changed except the gap fill action yesterday. We’re back to were started 2 days ago. Symmetrical triangle is still in plan, pulled back to apex and moved forward. Wedge on daily is still shaping up. Range is 825-838. Anything above it bullish, anything below is bearish.

Half way filled the gap but met target and a little more.

Short here after breaking down from top of gap. Looking for gap fill.

Small range yesterday, possible outside day today? Small trendline channel above the gap. Will buy at or near top of gap or bottom of trendline channel. No shorts in sight for now.

Looked like the prices finished strong at the closing at the high of the day into the weekend. It’s very bullish seeing Friday gapped, pulled back, and returned to top of gap and did not gap and continued upwards. Let’s see what happens today. Breakout from symmetrical triangle and confirmed when it pulled back to 829 (top of gap). Looking at 841 as measured target. 838 is resistance and 828 is support.

Changed my mind and went short, seeing the action was stalling.

Long here, pullback from breakout to new high for the day, and it’s in middle of filling gap.

Exit long here. Going against the tide here, stopped moving down but a quick bounce up, bulls came in and stopped the move down.

Exited long and enter short again. Saw double-top at 823, underneath the old unfilled gap.

Exited short and went long immediately. Realized the 819 was support after check higher timeframes, so going long here.

Short here after the first rally of the day from a down gap opening. Lots of volume today. Be careful.

Looks like that rising wedge is about to be confirmed. The gap down this morning might be the start of the fall here. Watching carefully for rallies to short here.

Stop 2 pt target reached.

Short here on lower low lower high formation. Gap up fill failed and on 2nd high of the morning, shorted.

Low failure formed yesterday on 3000 tick. Daily shows a rising wedge breakdown and about to be confirmed? Watching for possible breakdown and go short

Bullish action, the gap still unfilled. Will buy pullbacks. No pattern to play other than the parallel trendline broken yesterday.

Bottom of the old unfilled gap, top of the trendline channel, and all targets have been met. Market is still bullish but any high failure will look for shorts. But if it breaches these resistance and confirm the breakouts, will go long.

2 pt target met, and near 816 support.

Short 819.4, lower low from opening on 600 tick, gap fade trade.

822 is resistance now, gap just below. Waiting to see if gap fade will happen.

Exit, 2pt target, near top of the pline. (S5 D5 50% RETRACE 60MIN)

Long at 50% retrace on 60min-chart. Also Low Failure was spot and long at lower high.

Exit, S1 and yesterday’s low support reached and also bottom of pline channel reached.

Short after the opening with 2nd lower high showing.

New parallel trendlines have formed. Looking to short at rallies until 808.

Breakout upside from triangle. Long at 821.8 target 825.0 stop 819.0

A range has been building between 820 and 815, small contracting triangle. Nothing doing until it breaks out either way. Prices are near a parallel channel bottom. Will watch for reaction as it gets near it.

Exit @815.0, taking profits due to weak/slow volume. Not sure where it’s heading today.

Short 817, gap filling and rejection at 819 again.

Same as Friday but looked like the rejection in late afternoon has put a possible double-top here. Will watch for a lower-low in lower timeframe for short.

The immediate trendline is broken and the rejection from the bottom gap at 819 is proof bears are there. Possible move back to 810, then cyan trendline? Will look for short opps in lower timeframe.

817 is the bottom of the old unfilled gap so watching what happens here how it handles this resistance. Market is short-term bullish but prices are at trendline channel so have to be wary here. Sidelines for now.