Wow.. what a volatile day for scalpers..
We traded to the following levels:
Opened 1588.50 from 1594.50 the previous trading day
High 1598.00
Low 1588.50
Close 1598.00
Alright.. we opened the day at 88.50 and never went a tick below it. We did go back to test the low once tho. I have a fellow trader Teo who took a long at 90.50 and his initial target was 93.50. Due to the swift spike down to retest the 88.50, he decided to take his profit at 92.50 which was quite good as well.
Price continues to go up but in a zig zag type of way. We actually formed a bullish wedge going up. After price filled the gap at 94.50 and touching a high of 95, it quickly pulled back to the 92.50-93 range. I was worried that I would miss the short so I quickly park a sell at 93.50. If I had waited for a few minutes longer, I would have gotten a better fill at maybe 94.50 instead as price did went up to trade as high as 95 for a while.
After lunch, price did react as expected and went down to test the 91-91.50 range. At this point I already had 2 points profit from the 93.5 short. Take note that if had I shorted at 94.5, then the position would have had 3 points of profit and I would have most likely taken it. But as the other regional market was performing strongly, I was wary of sharp spike up which really did materialize. When price started to bounce hard, I took the position off at 93.0 for a tick scalp. Price eventually rallied to 98 from then on.
After price touched 98, it pulled back into the 94.50-95 range and held there. After that, we rallied right into the close and right into the high of 98.
Freaking volatile day.. Tonight we have numbers and same goes for tomorrow.
We will see how the US market react to the numbers tonight and plan for tomorrow accordingly.
So wishing everyone a great evening and see you in the morning updates tomorrow with the appropriate support and resistance levels! :)
Best Wishes,
Tech Trader
No comments:
Post a Comment