Wednesday, April 15, 2009

April 15, 2009 Wednesday Day's Trading Analysis

I had mostly the right trading ideas today, although too early on entries without waiting for good bid/ask volume confirmation. The VWAP was an excellent indicator, not because it acted as great S/R but because it was NOT respected, showing us the market's character was that of a Z-day (range-bound choppy day where fading extremes in price is the best way to trade).

On trend days the VWAP is well-respected. If you are lucky to get a pullback/throwback to the VWAP, that might be one of your few retracement opportunities to ride a strong trend.

The second trade was really the only one that didn't make much sense and didn't meet any of my criteria.