Wednesday, March 18, 2009

March 18, 2009 Fed Day Trade #1 Long 2 Contracts

Pullback trade going with this 3 minute uptrending channel. Here I scratched the trade early because I saw a lack of follow through. The original stop 2 ticks below the 769.25 level would have held and allowed a decent target, but no regrets during lunchtime. The trade took a -1 and -.75 point stop. Charts and analysis below:
Trade 2 Screenshot