July 22 trades

Keeping the post brief. I also had a couple of losers and some other trades too apart from the ones posted below.


Tried to use TraderAM's style of trading.  5th candle saw some retracement and was off the ORL and 5 EMA. Short on the break and covered for a $1 profit.

Kind of a double top with momentum divergence on oscillators. Very choppy action. Covered at ORH and previous support - $95.40

PDL acting as resistance. Short on the break of 2nd bar low and covered at ORL.

BGZ

AMLN

This is a paper trade. I had seen a somewhat similar e-mini trade taken by Tyler where price fails to hold ORH as support and penetrates inside the OR. Wish I had taken this trade. My paper trades are usually nice gainers compared to my real trades.

AMLN was a gapper and opened above PDH. It formed a DT on 5 min. chart and showed signs of weakness when it broke the ORH forming a bear flag against ORH and failed to recapture it. Initial target RZ of PD range, full target - ORL, 38% FE drawn from ORH-ORL. AMLN reached 38% FE. Tyler's target was 38% FE. Here is the link to Tyler's E-Mini Trade: Link

QLD - Double Top

QLD looked like forming a double top. Entered on the break of hanging man. Since market were strong in the early trading hours, I took partial at the double top base. My initial target was 100% double top measured from 2nd top high to base but that appeared to be a very aggressive target. So I changed it to 50% which also coincided with 50 EMA on 5 min. chart and 20 EMA on 15 min. In hindsight, the 100% target would have been achievable. My broker normally does not have QLD for shorting, so I went long QID but the entry and exits were completely based on QLD chart.