Tuesday, April 7, 2009

April 7, 2009 Tuesday Trade 3

Saw that the previous low of the day was being tested (a double bottom test with slightly lower right leg) and also that this would be the first test of a massive 60 minute trendline that was also overlapping on the 50 percent fibonnaci retracement from the 775.5 swing low to the most recent daily high (812 area). I waited for the bid/ask volume to confirm for me big traders were stepping up to the plate and scalped out for +1 points.

Trade 3 (Long 1 Contract +1 points):
Trade 3 Screenshot