Tuesday, June 30, 2009

Test Above 924 Area

Hi there guys,
I got a real nice one this am, shorting near the high at 925.50. I exited 911.50. I explained my reasons in detail in the chart annotation. I am not an early morning kind of person. The only reason I was able to be sharp enough to take this trade was my preparation. I was totally aware that 924 was a key area and that if the price probe above this failed, or if this was just a stop catching expedition, we should see a really nice move to the downside.

I had my target clearly laid out at yesterday's low. I had a clear analysis and my inferences worked out to the tee. When the trade moved in my direction, I got out of the way and let it play out.

We all know that it doesn't always work out so nicely. Today it did. Now on to tomorrow.


No comments:

Post a Comment