Monday, March 16, 2009

Trade 3 Short ES R2 Pivot Failure Stop Taken

Saw a 3 minute bearish engulfing candle, and also that the R2 daily pivot level was breached but the price fell back below showing that some people who chased were trapped. I did 1 contract short only due to being lunch time and counter trend. Unfortunately I stopped myself out of this trade for -.75 because I did not see the follow through I wanted. Charts and analysis below:
Trade 3 Snapshot