Ahaha... I love the news *updated

Ok, I have a habit of posting shit while I am driving or working just because I feel such a need. This interesting event was such a need.

Earlier... I took a screen shot of this chart because I wanted to show you how it was turning into a wedge shape, which is different than the other shape/pattern/setup I described. This is a 1-hour chart, where each bar represents 1 hour of price action.









Then I checked back in to see this lovely move in my favor. That is the beauty of always being on the right side of the market. Sorry the chart is squished up a little too close, but it is on my phone and not nearly as easily manipulated as it is on my computer. The account is reaching new equity highs in the following couple of screen shots, but I really don't feel compelled to take profit. Remember how this entire time I am on the road is supposed to be me allowing the robot to trade so I can analyze its performance?

I am determined to stick to that, because pulling out a profit is not my main interest immediately, it is seeing how the robot actually handles getting in and out of trades. If in the long run the robot can't reliably do that, I know it wont be as useful to me as I had hoped.

Also, the other part of me not wanting to take profit, is a curiosity to see just how big a winner might turn up simply by letting the market run away if it chooses to.

Sure I could take the profit now and reset the zone to new price levels, and that would give me more opportunity to see how it enters and exits mechanically, but then if the market really tanks or rallies in the favor of any one position, I'll never be able to witness it




On a 4 hour chart (where each bar represents 4 hours of price action) you can see price approaching that area of resistance I spoke about in one of my previous posts. If I were going to get out, it would most likely be at that level.


I wanted to also zoom in and look in more detail what was happening as well. If you look closely, after the initial move up there was a pull-back and then a continuation. This chart is showing what looks like a "Measured move"... pulling back to the approximate measurement of the first move and possibly going to continue on. 
No matter how easy making a profit via this robot has looked so far, keep in mind that although the market is operating on the predictable patterns of human psychology, anything can still happen. We may see a continuation, but it is also Friday and th markets close soon. There is a likely hood that a continuation will not occur simply because traders will want to exit their positions and be out of the market over the weekend. Mass selling will of course cause the price to fall. Simple supply and demand.

*update* looks like the market closed up, which to me is a sign we may get some lower term continuation next week.










By the way, I found this guy on youtube the other day and I feel pretty in line with his trading in this video, check it out.




Have a great weekend!
-Francisco