11:11 -1 @ 4491 +1 @ 4494 -3
Short as volume picked up after a break of the morning trendline, and price dipped below the 4493 50% retracement on friday sell-off, which was also midpoint of morning range. Expected a test of the lower end of the range with exit around 4482. Stopped out back above level.
Chris suggested looking at immediately prior bounce prices as stop-loss levels
14:37 +1 @ 4453 -1 @ 4452
14:37 +1 @ 4451 -1 @ 4452 0
Market hitting support trendline on daily chart after sell-off. Held 8 ticks onside, expecting a further push back if we broke back above 4460. Scratched.
Was also tempted to reverse at entry because of the prevailing selloff. But hesitated to do so as this was still a strong support area.
15:33 No trade
Wanted to get in on SP at 15375 which was fridays low, for a possible gap fill play to the upside.
15:39 -1 @ 4443 +1 @ 4440 +3
New lows, SP breaks 15375. Oil doesn't stop dumping
16:01 +1 @ 4444 -1 @ 4443 -1
Possible low
16:08 -1 @ 4432 +1 @ 4429 +3
Break through friday's low. Should have reversed on exit, this could be the hammer I was waiting for.
16:16 -1 @ 4436 +1 @ 4439 -3
Possible bounce off previous short term support turned resistance at 4437
16:17 +1 @ 4440 -1 @ 4441 +1
Overall thought of going long around 30's because oil was holding back above 73 and market seems to be waiting for a strong bounce to signal recovery turning point.
17:00 -1 @ 4459 +1 @ 4456 +3
On the hour 4460 ticked back, which was the level a prior trade failed to reach. Took out profit early to end up on the day.
+3
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