Making a quick call and possibly jumped in a little late but we exited the channel that I presented from my last idea and re-entered. Upon re-entry we have positive news of the CPI and a bull Flag. Also yesterday's low is acting as a great support thus far. As long as that support isn't broken then I'll stay going long to see if we can break the high today.
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Larger area for view of the channel.
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Took profit at level one 50 pips. Entered at 3368.8 Took at 3373.8
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Entered another small position. 3367.3
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Second position here.
Trade active:
BOOM! 50 pips take profit from the second entry. Still two positions running with profits covering my stop loss if it hits. But I'm not counting on that :)
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Just for info Golden Dotted, two at top are yesterday's high and out of market high. At bottom, yesterday's low and out of market low. The two in the middle of mytrade are my take profit levels. I should probably change the colors so it's not confusing. But I like the Gold color :)
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I took a good chunk of profit at 3378.5 and only have a few remaining positions open as I put my SL to BE + Spread. I may re-enter if I'm stopped out.
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Secured (50 + 50 + 100) 200+ pips across 2 positions of various lot sizes. It may not seem like a lot, but this is a good trade to me being only a few months into trading.
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1st position stopped out with it dancing just above the SL by a pip for a while. Let's see if position two will hold. (P.S. I think this chart looks like an old school video game)
Trade closed: stop reached:
Stopped out. But not after taking a hefty Bag with me. Now I'm debating whether I find another good entry to hold over the weekend or just relax and re-gameplan on Sunday. The Last day felt bearish but I'm still bullih on SPX Overall.
You're either trading with Smart Money Theory or your just burning your money money. Believe me, I've been there.
