November 21, 2018 Raffaele

I am trading my way into The Gauntlet challenge with Earn2Trade.

…and how is it going?

S&P500 Short : +3 ticks

S&P500 is in th eSell Volume Value Area and at the very top of the Regression Channel, it corssed MA Hull so I enter a short order even though I would have prefer to see it go up to 2657 which is both Pivot and a strong Volume Level from yesterday.

Price moves in profit but then it creates a long candle with a very long wick downwards, I lose confidence here and close my trader with a tiny profit.

S&P500 Short : -32 ticks

I’m awaiting a confirmation to re-enter a short order, and so as soon as Slope Rider fires the Short Signal (red arrow) I’m in again.

Price then swiftly moves up and breaks above Pivot P, is not looking good, but I hold my Stop Loss above 2660 which gives me a little space above yesterday strongest volume levels. I won’t move the Stop Loss further than this, just let it run: and for today that’s it in S&P500: win or lose.

Price moved nicely below the Pivot so I planned to let my profit run this time until a divergence signal comes up; no signal of divergence yet price retraces and comes all the way to hit my stop loss.

I thought of exiting when in profit but I need to learn to let my profits run until I have a signal to exit; it just wasn’t the right day for this, I don’t regret this loss.

GOLD Short : +9 ticks

Gold is moving very similarly to S&P500 today which is awkward, Slope Rider has colored in 3 candles in pink and price is at the top of the Regression Channel and in the Sell VOlume Value Area, so I’m entering a short with a tight Stop Loss.

Shortly after also the Slope rider Sell Signal has fired (red arrow) and even though a long candle has formed this is colored in pink too, so a strong divergence is happening here.

Price has moved down below Pivot P but on the hourly chart at 12:00 has closed just above it so I first move my Stop at break even and then I exit with a decent little profit.

Oh only now I’ve realised that hourly candles start and end 15 minutes past the hour in my charts… in fact the hourly candle closed below the Pivot with a long wick on top, which would be signalling a continuation of the bearish trend…

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