Tuesday, April 14, 2009

April 14, 2009 Tuesday Trade 3 Short 2 Contracts

Observed the VWAP was not respected today, making me suspect we were due for a Z-day (rangebound chop day where price oscillates between extremes of price). Saw that the daily pivot level was rejected with good selling volume (bid/ask volume indicator on both the 3 min chart and 233 tick charts showing big trades mostly at the bid) so shorted retracement back up with volume and price confirmation on 233 tick chart.

Trade 3 (Short 2 Contracts +1.5, +3.5 points):
Trade 3 Screenshot