Monday, April 13, 2009

April 13, 2009 Monday Trade 2 and Trade 3

Trade 2 - Went long two contracts for another gap fill attempt. Here we had a good hook up in price from the strong daily pivot point support level but the sellers flushed it down with a selling spike. This entry was not too bad but the morning today was kind of tricky. Long 2 Contracts Stopped Out -1.5, -1.75 points.

Trade 3 - This was sort of an impulsive short of two contracts. I figured because the daily pivot had snapped (we did get 2 points below) there was a good chance of an opening range breakdown to the downside of working. Unfortunately I only succeeded in trapped myself short at nearly the low tick of the push down with my oscillators oversold... Future rule, no impulsive range breakouts/breakdowns allowed. Only pre-planned ORB are allowed. Short 2 Contracts Stopped Out -3.25 points.

Trade 2 (Long 2 Contracts Stopped Out -1.5, -1.75 points):
Trade 3 (Short 2 Contracts Stopped Out -3.25 points):
Trade 2,3 Screenshot

So what ended up happening is, the price was able to get 2 points below the daily pivot point, then proceeded to rally for a gap fill...Very wicked and tricky.

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