Thursday, March 26, 2009

March 26, 2009 Trade 3 Short 2 Contracts

Bearish Gartley formation on 3 minute chart and overbought on both the 3 minute and 233 tick timeframes with a good confirmation signal on the 233 tick chart. This trade was somewhat marginal though as I was about 1 tick from being stopped out with not such a great target. My stop was 820.5 (the 820 swing high plus two ticks). Chalk up the bad, choppy price action to an inside rangebound day and also the house financial services meeting with Tim Geitner.

Trade 3 (Short 2 Contracts +1.25 +.25 points):
Trade 3 Screenshot