[thalestrader]

Originally Posted by imorgan »

Everything has turned to the downside over the past hour so short positions would be what I am giving more attention to. Would you agree?

Short ZMH (see chart).

Yes, all of my positions are shorts right now.

[thalestrader]

Originally Posted by thalestrader »

I wanted to post this 6B (Pound Futures) or GBPUSD short trade as it was setting up, but I was busy getting a bunch of orders entered. It has progressed nicely while I was trying to annotate the chart.

First chart is the GBPUSD as the trade got started, and the second is the futures contract 6B (it has reached first support/profit target).

Stop is now 1.6417 basis 6B

[thalestrader]

Originally Posted by thalestrader »

Stop is now 1.6417 basis 6B

Covered 6B at 164.04, +33 ticks

NUE +21 cents
AET +02 cents
ZMH -1 cent

[thalestrader]

COP sell stop 43.09 - Gapped open higher and sold back down to yesterday's close. Retested that low and has tried to rally feebly.

[thalestrader]

Originally Posted by thalestrader »

COP sell stop 43.09 - Gapped open higher and sold back down to yesterday's close. Retested that low and has tried to rally feebly.

COP -17 cents

And that is why I always have a stop - once in a while you get stopped into a trade and the market turns and races against you before you even have time to think.

[thalestrader]

ABX looks to have a small H&S bottom on the 5 minute chart - too late for me to trade it, but it is interesting to watch.

[thalestrader]

GBPUSD and EURJPY - both short trades, but neither with a terribly attractive R/R profile based on the proximity to potential support. Now, if price reaches that support, and if that support gives way, then you'd be looking at a very favirable R/R scenario.

[thalestrader]

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