Saturday, January 24, 2009

825 Short Trade

The 825 was an area I was watching on Friday morning. We had the Thursday close and behind it the Value Area High. Then on Friday, we were presented with the third level of confluence when the 1.5x the IB was at 825. Added to this, the internals were not screamingly positive. The Cumulative TICK was barely positive and the VOLD (not pictured) was struggling to get across the zero line. All signs said "SELL" 825.

The entry could have been a limit sell at that level or the footprints could have been monitored for confirmation, as I showed in the chart.

Hope it helps.


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