FWLT, SKF

I'm back. I am hoping to be active at blogging now.

Had 2 trades today. Could have turned into a nice day had I not taken partial in both the trades. SPY gapped up but it appeared to me that it could roll down anytime in the morning. I was extra cautious and took partial in both the trades.

SKF gapped down but appeared to be strong. However, it was unable to close above R2 which provided strong resistance along with the sloping 5 EMA. Candles with long tails near R2 resistance. Took partial along the way and finally exited at 35% FE measured from PDH-ORL.


FWLT strong in the morning when SPY was a bit weak. WR first bar, hit high from a couple of days before which also happened to be the high of this year. I bought based on 5 min. chart on retracement. ORH seems to be acting like resistance and formed a bearish candle. Took partial there. Sold remaining near 35% FE.

Tomorrow we have Crude Inventories at 10.30 am and FOMC at 2.15 pm.