Friday, March 27, 2009

March 27, 2009 Friday Trade 4 Long 2 Contracts

Going with the momentum of recent V bottom here on 3 minute chart. Buyers obviously in control so tried to get long on oversold condition, the stochastics got to about 50 on my entry, not ideal but I saw that the upchannel had been expanded a little to fake out some shorts but held, so got in long on 233 tick confirmation. I thought that the daily pivot could break to run some stops but buyers ran out of gas, so trail stop hit.

Trade 4 (Long 2 Contracts +1.25 +.25):
Trade 4 Screenshot