Aug 032010

It was a quick morning.  The ES opened and pushed into the top of our 15 / 18.  After a rotation up, the next rotation down double bottomed at 117.75.  Sellers could not push price down further and buyers took over at 18.25/18.50.  Since entry was 19, the second target of 20 was used.

The 10am EST news will probably insert some volatility and might set the direction for the day.  Wait for the news volatility to settle before considering any trades.

 Posted by at 9:55 am

  4 Responses to “8/3/2010 Post Trading Analysis”

  1. Price continued down to make a couple of rotations resulting in a double bottom at 13.50 around 30 mins after open. The next rotation down saw a low of 13.25 while forming a very convincing trap. Price then headed north fairly strongly from there. Unfolded steadily and convincingly.

    Also, is there any way I can post charts in the comments – this example was quite good in my view and I think others could benefit from it?


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