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Thursday, January 31, 2013

20130131-2&3

GC
Open:
Long 2 @ 1676.1. Support at 1676 and 15m Hammer, 10 ticks stop loss at 5 ticks below the low, 15 and 30 ticks targets.

Close:
Sell 2 @ 1675.0. Stopped out, 1 tick slippage.


2 contracts -$220 gross, -$233.88 net.

2nd Try:
Open:
Long 2 @ 1676.0. It stopped me out and made another 15m Hammer, decided to try again. Stop losses are 11 ticks at 1 tick below the low and 15 ticks at 5 ticks below the low. 15 ticks and 30 ticks or open target.

Close:
It formed a 1m H&S pattern, raised half stop loss to -5 ticks at 3 ticks below the right shoulder.
It broke the neckline, raised first target to +20 ticks at the projected 15 ticks target of the pattern.
1st: Sell 1 @ 1675.5. Half stop loss, it went to as high as +12 ticks.
It formed what looked like a H&S pattern, although not yet complete, I decided to raised the stop loss to 2 ticks below the right shoulder at 1675.5 and raised the target to 1679 at the projected target of the pattern.
2nd: Sell 1 @ 1675.5. 

2 contracts -$100 gross, -$113.88 net.
For the trade, -$320 gross, -$337.76 net.




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