July 14 trades - GLD, TZOO

TZOO formed NRB's on daily and looked ready for a breakout. It gapped up a little, then price moved down to the rising EMA. Entered long on strong bar off the EMA on 5 min. chart. This Strong volume came in and took partial at R2 and decided to hold the remaining for a further move up based on volume but then decided to sell the remaining. Glad I did that. It failed at R2 and reversed badly.

Gold was a little extended on the daily. Shorted when price formed a bearish candle at R2. Covered partial near 20 ema and remaining at daily pivot.

Tuesday's Trades

Nice move in the morning followed by some weakness before price found support at the 20 EMA. Price consolidated in a narrow range. Went long there and sold the position near R2 and morning high.

SLV has been moving in a tight narrow range for the past 4 days. Today it broke out of this range, gapped above R2. Price then retraced a little to find support on the rising 5 EMA. I went long there but it was a losing trade. Price moved down to 20 EMA and formed a hammer. Went long again. Sold partial near morning high and the remaining near the close.

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.

CELG, BIDU, AMZN

CELG sold right after the open and bounced from support (low of a couple of days before - blue broken line on the chart) and closed above S1. 2nd candle formed a reversal candle on S1. I entered early when the 3rd candle took out the close of the 2nd candle. Took partial at 20 EMA which coincided with the $46 level. Moved the remaining shares to BE to give CELG some room for retracement. After CELG found support at PDL and moved up, I moved my SL a little below PDL. Exited the remaining at 5-day EMA.

This was the most disappointing trade. BIDU opened above a previous resistance and looked quite strong. It then formed a bull flag under a previous resistance at 310 on declining volume and higher lows. 7th bar was almost an inside bar filling the tail of the 6th candle and closed strong. Entered on the close. I intended to take partial at 50% and remaining at 100% unless there was a reason to exit. But when I saw a shooting star like candle on 5 min. before the first target was reached, I panicked and exited the entire position. Very frustrating. I am not improving at all. I exit good psoitions early and hold on to the losers till they take me out. Anyway, BIDU easily reached both the targets.

This was not much of a gainer but I wanted to document this chart for future reference. Entered when AMZN formed a inside bar below R2. I wasn't expecting AMZN to move much because of overlying resistance and that the markets seemed overextended. It kindled some hope in me when it broked the ORH with a bullish candle but the next candle was a bearish engulfing candle. Exited my entire position when the low of the bearish engulging candle was taken out.

FSLR, ISRG

FSLR bounced off again today from the $174 support. Entered on a retracement. There was also a morning doji bullish reversal on 60 min. Partialled at PDH and intended to hold the remaining till the EOD but on seeing a spinning top and bearish candle just after a couple of bars, I tightened my stop and got stopped out. I should have let it run. Left a lot on the table.


Weak red first bar followed by some sideway consolidation. Entered short on the break of the consolidation. Exited entire position at 50% FE measured from top of the first red bar to the consolidation.