Swings and scalps

Small positions. Playing it conservative so I don't have 9 entries this time. There is no support practically, so I put the target at $416 the 76.4 level. I figure if I can keep a trade open then I can keep my account from blowing up.

Keeping the trade open, keeps the account alive. I think psychologically I had a hard time not taking my money and running, but his past month scalping gold especially I have run several small under $100 accounts into the ground. I was looking at it kind of like a stop loss, like the margin required for a futures trade.

So, that is the new goal, at least keep 1 position open at all times and try to keep as many open as possible, however, do take profits now and then.

$0.50 risk.

Top of the range and looking ready for a retrace, fairly tight stop above previous high. Looking like a good swing position with plenty of fib room for targets.

I figure this should tandem the USD. I am learning about spread trading and correlating markets.

The first butterfly is reaching reversal point at 423.6. This may propel price up so I will go long on my demo, but I am waiting or the bigger fib to hit 161.8 before I put real money on the line.

Stopped out on the real account. So, got back in on the demo. There isn't much support, but it is at the bottom of a channel.

Stopped out 12 cent loss.

Since it is going in what was my favor before I stopped out, I got back in the demo account. Jumping in and out cost me too much these past few weeks. Demoing it.

To the pip.

There is the bell let's see what happens overnight.

2nd test.....

Test of the sma 50.

Butterfly forming suggesting bearish continuation. Waiting to see how strong it is. It could keep keep going to the 423.6 of the larger move. I am just playing the retrace with the plan to set stops at breakeven and see how far up the move goes from here.

3rd position. Only risking $1 so far.

2 sma 50 test.

Bull flagged at the 50 sma. Waiting for a new low to form to above first entry to move stops up.

If it gets to this resistance level I set an entry. Below that is the demo acct.

Perhaps another bull flag. If we get above 23.6 I see that as bullish.

Soon it will retrace to the sma 50.

What a weak fib does. It lost it's downward strength. How they loose energy and reverse into another fib is a good study.

Natural systems, as Bill Williams says. Nothing human per se about the market, it's just nature. Human decision is not separate from nature when statistically taken as a whole.

It shows how it consolidates after momentum, now a bounce of the 50.