Thursday 13th November – Daily Stock Market review

GDAX

A volatile day today. The GDAX rose early on, triggering a trade at 4657, and rose to 4677 before falling back quickly to stop out my trade for a loss of £130. GDAX then fell to a low of 4524, before rallying when New York opened to make a new intra day high of 4713. Finally, the GDAX fell back again, triggering another trade at 4641. This trade stopped out for a loss of£98. GDAX closed at 4649. This has been a horrid week on the GDAX, I hope things are more profitable tomorrow. Tomorrows trade levels are 4540, 4650 and 4789.

Oil

Oil rose early, triggering a trade at $54.16, and rose to $56.29. I moved my stop up to $54.98, and then oil fell. I was stopped out for a profit of £75, and entered a short position at $54.98. Oil then fell down to$53.31, and I moved my stop down to $54.16. Oil then rose again, stopping out this trade for a profit of £75. Oil rose all the way up to $56.89, before closing at £56.28. Quite a volatile day, no doubt a response to the falls and surges on Wall Street. Am now out of the market. Tomorrows trade levels are $56.60 and $55.05.

Dow Jones

WOW!! What a day. The Dow opened with some strength, going up to 8410, and came close to triggering my trade level at 8429, but then it fell hard, dropping to a low of 7969. But then the Dow got HUGE strength. My trade was triggered at 8429. I moved up my stops to 8349. The Dow then reversed stopping me out for a loss of £86, and triggering my other trade level at 8349, but then the market decided to rally even more. I stopped out of my short position at 8429 for another loss of £86, and re-entered long again at this level. The Dow then climbed up to 8872 before closing at 8835. I closed my position for a profit of £400. My profit for the day including the earlier losses is £236. I guess traders just looked at how cheap the stocks were and piled in to get bargains, causing a big rally. My trade levels for tomorrow are 8775 down and 9000 up.