May 062010
 

Man that was a long grind waiting for a trade. As I said pre-market I didn’t want to trade the OL except to scalp which didn’t really set up either. I waited for the push down to test that last little rejection area around 53 with the intention of scalping that. I timed the entry on the shift mostly on feel and got super strong lift so I changed my mind and decided to hold for a full rotation. Filled at 54.25 out at 55.75. I originally targeting 56.00 but I hoped out as it slowed so I didn’t give any back. Lucky really. Worst case I would have got a few ticks but I timed that one just right. I will now wait for 46/47/48 and fade there again probably if it sets up and volume is still good which it has been so far.

 Posted by at 11:07 am