Today was a good day.. I hope all of you did well too!
FKLI 30 mins chart
We traded to the following levels today:
FKLI
Opened: 1582
Low: 1577
High: 1585.50
Closed: 1582
We closed as a doji today.. opening price and closing price is the same.. We traded in a nice range and there was plenty of opportunity for scalp for the whole day.
In the morning, we closed our swing short for a small loss. We might still look for a swing short opportunity, but I would prefer to have some confirmation before taking the trade.
Price opened at 82 and briefly went up to 82.5. Then price went down to test 77. I went long at 78 and exited at 81 for a 3 point scalp for the first trade. Then we had come clients came over to the office so no trades until the afternoon.
After lunch, price came down to test the low at 77.50 again. I went long at 78.50 and exited at 81 with 2.5 points scalp. I had a feeling that price was going to be really strong, but I had already parked my target at 81 when it spiked to 85 to test our first resistant point. But 2.5 points was better than nothing. :)
Then price came down and pulled back to 82 area. I went long again here at 82 and exited at 85 for a 3 points scalp for the third trade.
Now this was almost 4.30 already. I should have stopped here but I did not. I took a fourth trade that turned sour. I saw that Cash was strong and I though we might have a repeat of yesterday's spike up again! *more like wishing actually, but since I already had some nice profit buffer, I could afford to take this risk*.
I park a buy order at 83.5. After cash market closed, price immediately sank to 80.50!! I immediately cut my losses at 82 and at 81.50 respectively for 1.5 points and 2 points losses. Price did eventually went up as high as 83, so I could have gotten out with a lesser loss. But it could have also went down all the way coz we spiked real hard yesterday.
Overall, today was a good day and I hope all of you did well too.
The US market is now largely unchanged so we will see now it close tomorrow and give you the trading levels then.
Good night and see you all tomorrow! Ciao!
Best Wishes,
Tech Trader
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