Wednesday, February 23, 2011

Day 18. +13.5. Blood, Milk, and Sky.

Continuing to hold longer and using 2 targets. First trade I figured was a possible home run type. It was higher than it had been in a while. I think the most recent hard resistance it faced at this level was around Feb 1st, but that was around 3820. So if this popped up it had a good chance of charging hard. However, around 7:10 it hit, almost to the pip, the same point it did at 7am and bounced back. So I said fuck it and exited. I was expecting price to go down after that but knew that if I was wrong, and it broke that little double top, that the pressure to do so would cause it to jump nicely. So positioned myself. I scaled at my first target and then price kept making tiny jumps back and forth so I exited the rest of the position. I soon got back in and put my entire target at 3778. I've noticed price often hesitates around the 80 marks. It's not as strong as 00 or 50 but for whatever reason 80 just seems to be where things go silly. Target at 78 was just to be safe. The reason I didn't use a second target to scale was because A) the 80 thing I just mentioned. B) Price was getting closer to 00. C) we were reaching the ceiling of resistance at 3820. Lots of room between each of those areas but since I'm still learning I decided to err on the side of caution and exit my entire position and also end my session. I'll be looking at the Asian open later today too.

Oh yeah, the pip count is in full pips. I add the grand total rather than counting half pips. Otherwise I'd have about 15, but make more sense to me to use the full pip amount.

Right now I'm listening to White Zombie. They were the first band I saw in concert. It was also the first time I was molested in public by some random unknown girl with big personalities. It was a very good time but that's a story for another day. Anyway, Devil's Rejects is one of my favorite movies but don't even talk to me about the Halloween remake. That shit suuuuuuucked! Ohyay.

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