Shardy's Day Trading Journey - Day 11

I want to discuss entries and exits today. A lot of what I have discussed previously, in regards to trendlines and double tops/double bottoms, mark your entry and exit points for you.

Today there was a very nice double bottom after the market died down from a frenzied start. The bottom trendline marks the low of the day and you can see price tests it and then bounces up into the sell zone of my moving average. This sell would have been the first trade marked by the red arrow.

As price moved back down it tested the low again. This would have been my exit from the sell as I was expecting a bounce forming a double bottom. It did exactly that and price went back up. Once price bounced back up I can then draw the parallel trendline at the top. Again price test the 1326 level marking my exit from the buy and forming a great sell. My exit from the second red arrow sell would have been in the buy zone of the moving average as shown by the circle.

Hopefully this has demonstrated proper entry and exits using a simple moving average and looking for proper double bottom/double tops.I want to discuss entries and exits today. A lot of what I have discussed previously, in regards to trendlines and double tops/double bottoms, mark your entry and exit points for you.

Today there was a very nice double bottom after the market died down from a frenzied start. The bottom trendline marks the low of the day and you can see price tests it and then bounces up into the sell zone of my moving average. This sell would have been the first trade marked by the red arrow.

As price moved back down it tested the low again. This would have been my exit from the sell as I was expecting a bounce forming a double bottom. It did exactly that and price went back up. Once price bounced back up I can then draw the parallel trendline at the top. Again price test the 1326 level marking my exit from the buy and forming a great sell. My exit from the second red arrow sell would have been in the buy zone of the moving average as shown by the circle.

Hopefully this has demonstrated proper entry and exits using a simple moving average and looking for proper double bottom/double tops.