Click on chart for comments on the ZB Market trade.
Today the wise choice was to stay out of the market and wait for the talking heads to stop talking. By this I mean, that is waiting for Bernanke to release his report and the market to react to it.
Looks like today the charts showed that the market wanted to go up. This is a perfect example of using a report (red) and watching for volume to be GREEN, then getting into the trade and seeing where it will take you.
My exit was a little above the high of that bar, and when the market decided to retrace it took me out. I didn't not want to give up gains so I did not follow the greenline on this trade today, but my first protective stop point was at my 1/2 exit profit area.
Then I moved it up accordingly to capture some more profit.
Good Trades,
David AKA Tiger
Today the wise choice was to stay out of the market and wait for the talking heads to stop talking. By this I mean, that is waiting for Bernanke to release his report and the market to react to it.
Looks like today the charts showed that the market wanted to go up. This is a perfect example of using a report (red) and watching for volume to be GREEN, then getting into the trade and seeing where it will take you.
My exit was a little above the high of that bar, and when the market decided to retrace it took me out. I didn't not want to give up gains so I did not follow the greenline on this trade today, but my first protective stop point was at my 1/2 exit profit area.
Then I moved it up accordingly to capture some more profit.
Good Trades,
David AKA Tiger
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