Feb 282012
 

ES:

Bias is bullish.  Strong buying tail yesterday. Major support levels: 65.75-68.50, 62.25-63.00, 58.50-60.50.

Bund:

Bias is cautiously bullish – it’s at the top of its trading range and I’ll be selective with longs.  Support levels: 139.62-76, 139.28-34, 139.00-10.  Bias goes bearish below 138.74 with resistance levels 138.74, 138.60.

Stoxx:

Bias is bearish below 2518 however it opened above that level so if it’s accepted above then bias switches to bullish.

Bullish scenario support levels: 2516-18, 2533, 2550.

Bearish scenario resistance levels: 2511-16, 2503, 2492.

Euro:

Bias is bullish above 3386.  Support levels: 3402-3416, 3444, 3472.

Bearish scenario (below 3386) resistance levels: 3386, 3366.

Gold:

Bullish above 1754.  Support levels: 1756.8-58.8, 1773.6, 1782.4

Crude:

Bearish below 108.40 with resistance levels: 108.40, 107.52, 107.04.

Bullish above 108.40 with support levels: 109.08, 109.36, 109.88.

I’d like to make a few points:  This is too many markets.  My goal in February was to see if a bigger picture approach could be profitable on the volatile markets (euro, crude, gold).  I’ve tracked the P/L for each of these separately so I can decide for each market independently and phase them in one at a time when moving to real money.  My best performance so far is on Gold however it’s also the market in which I’m least comfortable because it’s so volatile.  It’s almost like the lottery:  you enter your trade and pray it goes your way!  So it’s taking some getting used to, and when I go to real money I must trade it exactly as I do on sim.  Which I know will not be easy.  Most of the time I don’t even watch these trades because I focus on ES & Bund.  I just let them ride.  And that could be one reason I’ve been profitable with them – I don’t allow myself to get out early or scratch.

Yesterday my audio wasn’t working and I missed several trades, so I could have finished positive yesterday on these markets.  Tough break.  I restarted and now audio is working.

 

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