Timing the Trade

SL raised to breakeven +1

SL raised to +3 and then hit. +$130 on trade.

Crude:

Normally a little more risk than I usually take on with the SL placement. Assuming this moves in my favor, I will be trimming the risk by moving my SL.

I chose the SL level because it is slightly below the upper level of the high volume bar and my gameplan for PA is that it will stay above this level.

Not a good sign on the 5 min with the candle circled...def some selling taking place. As long as the down volume stays low, I'll stay in this trade.

This bar closed up on low relative volume...I'd like to see up volume start building soon on the 5 min

3 min chart printed a bullish close

Not a good sign on the 3 min....increasing down volume. Closed the trade for +$90

Crude:

PA retraced back into the ultra high volume up candle from yesterday. Currently having some trouble breaking above the short term previous high. But with strength in the background, I'm expecting a move higher from the current levels at some point today.

Gold:

Gold:
Refer to above chart....

With strength in the background (Friday's 'UH' volume bar...circled to the left), my expectation is for a potential long setup to show around the 1165-1163.5 area.

Dow:

Daily Chart

Take a guess on where the high-probability direction will be possibly over the next couple of weeks? Definitely would not be looking for long trades.

Dow 60 min chart:

Dow 5 min:

Always easy to pick trades in hindsight!

Perfect scalp setup. Spotting weakness on the longer term chart...then dialing down to see where professional money steps in to control price action. Wait for price to revisit the area of interest.

The following pics are examples of spotting ultra high volume on the longer term charts. They are great illustrations of what happens to price action when the professional traders (Institutional traders) become active with the intentions of changing price direction. Once again....professional traders sell into strength and buy into weakness.

Euraud
Eurgbp
Eurjpy
Eurusd
Usdjpy
CL (Crude)
DX (Dollar Index)
YM (Dow)

Dow Scalp:

Target 1 hit...SL now at breakeven +1

Need to see down volume stay low on the 3 min

Raised SL

SL hit on 2nd contract. +$105 on trade.

PA ran into the prior short term tops and fell back. Once my 1st profit target is hit, I don't like to give the money back. Sometimes I miss out on larger moves by having tight stops, but I'm more concerned with preserving capital. There's always another trade setup around the corner!