07:37 – Gold is moving up since market open, it just passed R1 so I’m entering with target at R3.
08:16 – price reached quickly R2 and I’m taking profit here; I will re-enter a long trade if breaks above R2, as it may instead bounce back down here.
At market open S&P500 jumped up 120 ticks creating a large gap.
07:37 – S&P500 is struggling to break above pivot R4 so I enter a short in S&P500 targeting the bottom of the gap in price.
08:17 – instead it moved above the pivot and hit my stop loss.
07:37 – price seems able to break above the pivot, perhaps this news fuelled trend will continue today, I’m entering an order long.
12:01 I got stopped out instead.
08:37 – price seems able to break above the pivot, perhaps this news fuelled trend will continue today, I’m entering an order long.
12:47 – stopped out.
12:57 – Enthusiasms about the G20 news are cooling down, perhaps that play on S&P500 filling the gap is valid again; I insert a short order; also the Slope Rider signals this divergence and change in trend;
I persevered until I took some profit out of this play.
Question is: how did I have the correct idea all along and traded it so poorly to make barely any profit out of it? see image
17:20 – I insert a short in gold on Slope Rider signal, also showing divergence on the hourly chart;
21:00 – I close this with a nice profit.
Sierra is miscalculating my Daily P/L in S&P500, giving random results really; this doesn’t help my calculations, so there may be errors in my post.