Mar 112010

Here is something interesting which is one of the most powerful tools in trading. Obviously the chart is self explanatory, but this kind of stuff makes fading previously identified moves to key levels a no-brainer from a probability perspective. These are 30M bars trading into the high on 3-9-2010. As mentioned in the pre-market commentary for that day, there was hardly any institutional money in that rally as the majorrity of the position traders had already been as long as they want to be prior to a break of the 1148 highs. Fade trades in conditions like these are just a dream…

 Posted by at 7:09 am

Sorry, the comment form is closed at this time.