TNA short again - 3rd time in a row

Price gapped down below PDL and just above S2. It moved down nicely till 5 EMA caught up with the price. Shorted just below $77, covered partial above $76 and the rest above $75. It was a smooth ride, price never took out 5 EMA which was my trailing stop.

Love this pattern but did not take the trade. Nice move down, followed by consolidation and then price bounces right at intraday support and then breaks down. produces nice results. Same was the case here. At times, price takes out the high of the consolidation and then breaks down.

TNA again

Traded TNA today - both long and short.


This pattern is also often repeated. Weakness the previous day, price opens just above the PDL and takes out the PDL within 30 mins. Same pattern here. Shorted on the break of the first candle low. Normally S2 would have been the target but covered above $80 (round number). Price did not tag S2 and reversed from there. Around afternoon, it looked like price was forming the resistance pattern. Shorted when price took out the mini support. Price broke S1, formed an almost IB and took out the low and immediately reversed. A signal to cover shorts. I covered my short and went long. Sold at 20 EMA.

July 25 - Short TNA

Started the day with a long in SLV on the break of 15/3 candle high. Ended this trade in a loss.


TNA gapped down and immediately rallied. It met the downsloping EMA's on the 15 min. chart which acted as resistance. TNA consolidated and tried to break this resistance throughout the afternoon but finally gave up. I love this setup because it produces some good results and the win ratio is much higher.Shorted TNA when price took off support and covered at S2.

Short USO

I had a nice trade in CLF short early in the morning. Tried to short SLV after it rallied to the 50 EMA on 15 min. which ended in a loss. There was honestly no setup in the silver short trade. Also entered USO short. Since USO was not available for shorting , I shorted OIL which does not have much volume but I am posting the USO chart because I was following USO chart for entry and exit.


USO formed an inside bar just below R1, took out R1 but failed to take out PDH. It moved to the major EMA's and formed a bear flag on the EMA. I shorted on the break of the bear flag and price immediately broke down nicely. Love when the trades work immediately and better than expected.

Monday's trade - Short TNA, Long GLD

TNA formed a wide range red bar on Thursday right on the 50 EMA. Friday was a narrow range day. I was looking for a continuation of the downtrend on Monday.


Shorted TNA when price took out Friday's low. Covered partial at S2 and remaining near the round number.

GLD gapped up but I was initially looking for shorting gold because it seemed a little exnteded on the daily. Price formed 4 spinning tops and doji's just below R2 forming a bull flag. I changed my mind of shorting gold and went long above R2.

Monday's trade - Short TNA, Long GLD

TNA formed a wide range red bar on Thursday right on the 50 EMA. Friday was a narrow range day. I was looking for a continuation of the downtrend on Monday.


Shorted TNA when price took out Friday's low. Covered partial at S2 and remaining near the round number.

GLD gapped up but I was initially looking for shorting gold because it seemed a little exnteded on the daily. Price formed 4 spinning tops and doji's just below R2 forming a bull flag. I changed my mind of shorting gold and went long above R2.

Long SLV

Nice, clean small bull flag to 9 EMA. It chopped around after my entry but finally reached R1. Exited full position there. On the 15 min. chart, 2nd bar was an IB and that convinced me to stay in the trade. Have a nice weekend everyone!