Today there was a lot of information coming into the markets that resulted in high volatility. We had GDP come in at 1% v 1.1%. We had Bernanke speaking at 10am which gave the markets a big boost. I had 6 trades which resulted in a profit of $785. Volatility started dropping off around 12:15pm going into the afternoon. I would like to highlight a few of the positions below:
Trade 1- BOT Long:
Analysis told me the market was bullish, but I wanted to make sure that my entry resulted in as little heat as possible. The trade was actually managed poorly. I had a default target at 10 points, which I should have moved because of the volatility. As you see, I had no reason to exit yet and once target was met, market continued rallying.
Trade 2- BOT Long (Wedge):
This was a signal taken on a time chart. The wedge was recognized and I ended up taking the wedge support long which resulted in an R-multiple of 10.00. Max target was met at $400, 20 points.
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