The second chart illustrates the major support failure for the day. My next trade will be to the short side. I'm looking for the RSI(7) on the 60 minute chart to be showing weakness around the 70.
Tuesday, July 24, 2007
Went long today at the green arrow when the hammer formed at support. I closed 4 points which should have been 5 thanks to the major slippage on Xpresstrade. I got cocky and went long again when I thought price was bottoming out. It sure bottomed out and then some. I took a 2 point loss on the second trade meaning +2 points for the day.
The second chart illustrates the major support failure for the day. My next trade will be to the short side. I'm looking for the RSI(7) on the 60 minute chart to be showing weakness around the 70.
The second chart illustrates the major support failure for the day. My next trade will be to the short side. I'm looking for the RSI(7) on the 60 minute chart to be showing weakness around the 70.
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About Me
- Chris
- I am a full time systems engineer and a part time futures trader. I'm aiming to become a full time trader in the next couple years.
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