July 16 trades

Unbelievable day. I was expecting some profit taking today after the recent rally but you never know what the market has in store. Entered WLT on the break of 4th bar and got out on the 5th bar for some loss. Had another losing trade in FCX short before I went FCX long. Had some nice trades in FCX, SPY, NYX.


SPY formed a bull flag at ORH and PDH in the afternoon. Entered on the break and exited at 100% extension of the pattern.


NYX formed a base at previous resistance which now acted as support. I wanted to enter on the break of the 10th hammer and inside bar but the next bar was unable to take out the high of the hammer bar. Entered when NYX formed a doji followed by a bullish candle. Normally I would have exited at the red shooting star but since I had a nice gainer in FCX, I moved the SL to previous bar low which was never taken out.

Edited to add: This was a bit risky trade because volume was very low while the base was formed. ideally an increase in volume is preferred indicating that buyers are coming in.


Simple retracement trade when FCX formed 2 inside bars on 5 EMA support. Took partial at ORH and remaining at the end of the day. It was a painless trade after the partial because all the candles made higher lows, no reason to exit.