I should probably start posting a bit more again...
Had a good few weeks and just trying to be selective and take quality trades I also need to harden up and take more size than I can get tight risk. Especially because I'm only trading Sim still... Hopefully on the path going live at some point.
Now that I've been watching the markets most days for a while I am starting to realise why screen time is important.
I'm not normally taking too much notice of the one-minute charts, just for entries but today is a good example of how screen time can identify trades.
Off the open there was a impulsive move straight above long-term's resistance. I was actually short from this level yesterday and still holding one contract overnight. Which was kind of annoying because we closed just below my stop level. oh well.
Anyway just from watching and observing this is how trend days tend to start. You get an impulsive move on volume with no ability to pullback and fill in the move. So I was aggressive once we pushed up into the shaded area which was a possible area of supply. Then you can see we have formed a perfect ascending triangle above this supply which turned into support. Because I really had the majority of my position on with small risk I scaled in a couple of times and put my stop at breakeven.
I took most of the position off at the first point of possible resistance but I think we may like to push higher, I have to leave the office so I thought I would take most of my profit. My next target is just above 200, but I think there is potential to reach 300 today which is a big move on the Nikkei. Especially because I was expecting a quiet day with the Bank of Japan doing an announcement tomorrow