PAV Technical Analysis and Trades

[pavilion103]

Was I not playing for a larger time frame down move, I would have lifted at 6575 for 108 points ($1,080).

But I'm sticking with the strategy for now because I think there is potential for a crash. Can I guarantee it? NO

 

[pavilion103]

FTSE has already moved a lot before the open but I am looking for a short.
I took only 5 contracts @ Position 1 on the chart.
I took an additional 5 contracts @ Position 2 on the chart.

Much wider setup, so I took caution. ENTRY 7184 and 7185, STOPS both @ 7209.
Max risk 49 points x 5 contracts = $245.

 

[pavilion103]

Moved stop to 7902.
14 points saved.
Max risk now 35 points = $165

 

[pavilion103]

Stop moved 7195

 

[pavilion103]

Stopped out.
loss 10x5, 11x5
$105 loss.

 

[pavilion103]

I'm thinking I should have just left the initial stop. It's good to manage risk and try to get a trade to B/E but I think I didn't give enough room for the initial trade to still "make sense." Leaving it above the high of the day probably would have been the best move.

I got back in a bit later on for only 5 contracts. 14 point risk = $70 risk.
I put the stop right to the high of the day. This meant more points risk which is why I took a 1/2 position of only 5 contracts.

This has been trading in a range all session.
I don't know which way it will eventually break but if it breaks down I will be happy!

 

[pavilion103]

Today's trade on AUSSIE 200 CASH (A$1).
This is around a resistance level on the 4 hour chart.
I'm using that in conjunction with the intraday chart to identify good entries.

 

[pavilion103]

At some stage I want to post the types of setups that I look for. This was a failed two bar consolidation at resistance. Hopefully I get the chance to show exactly what I look for. I have about 3 types of long setups and 3 types of short setups. The bulk of my trades come from two of those setups for each long and short.

 

[pavilion103]

Initial stop moved to BE.
Annoyed to miss the other trade but I can’t be at the screen for everything.

 

[Haxorus]

Do you reckon the RBA news coming tomorrow will have an impact such towards bbus or bboz etc?

 

[pavilion103]

Do you reckon the RBA news coming tomorrow will have an impact such towards bbus or bboz etc?

I’m waiting to see…

 

[Haxorus]

I’m waiting to see…

Same here lol, It has been slowing down abit. Could it potentially go up? Who knows.

 

[pavilion103]

Same here lol, It has been slowing down abit. Could it potentially go up? Who knows.

We need the markets to have another leg down!

 

[pavilion103]

Two trades this evening on the FTSE.
Both trying to short from resistance on 4 hour chart.
1. Failed attempt (minus 10 points)
2. Second attempt with a stop above the high (12 point risk).

I always find it more psychologically challenging taking a trade after the previous trade has failed in the same session.
This will be my final trade for the evening whether it fails or does well.

 

[pavilion103]

Trade on AUSSIE 200 from earlier today... still holding.

 

[pavilion103]

Exits have been my issue.
I've been up plenty on trades the past week and given it back.
I was up 180 points ($1,800) on ASX200 and ended up getting out for measly 30 points ($300).
I did close out one intraday on the ASX200 for 35 points last Thursday for $350.
But apart from that I've given back way too much.


I'm feeling like these plays have some downside if they move but I have changed my tune a bit in thinking that I do need to bank some profits as I go. I won't go broke doing that. I probably will lose money however holding too long and giving back good profit from good trading on the entry.

 

[Haxorus]

Trade on AUSSIE 200 from earlier today... still holding.

View attachment 143642

What's your thought process behind this trade from today? Why did you entry at that point of this graph? Why did you even enter this trade at all, etc.. I'm not digging into you btw lol. I'm completely a newbie, and you're literally light years ahead of me in terms of trading.

 

[pavilion103]

Stop on FTSE moved to BE.

Edit: stopped out.

 

[pavilion103]

What's your thought process behind this trade from today? Why did you entry at that point of this graph? Why did you even enter this trade at all, etc.. I'm not digging into you btw lol. I'm completely a newbie, and you're literally light years ahead of me in terms of trading.

Price moving up into a resistance area on the 4h, so I'm bearish overall.

After a big bar pushes up, we see two small range bars closing near the low (the second bar on very small volume)
That's one of my mini-consolidation setups.
Then I enter below the low of those bars, with an initial stop above the high of the high bar.

The most important thing is the background context.
If you need to understand this when considering the direction of any trade, and where to look for the trade.
Then you need to learn some good setups that you can take in those places!
(and then good risk management i.e. moving stop loss).

 

[pavilion103]

Stopped out of AUSSIE 200 for BE.

Not getting much reward at the moment!