Happy Trending Tuesday ,
Toward the end of yesterday’s session, we blasted up 30 points…
I was looking for some continuation from the mid-gap fill this session but got stopped out quickly.
Once we broke past the MID of the day (middle price traded) and rejected an LVN I had drawn I flipped the script short.
It looked like today was going to be a down trending day.
We had a nice fast drop in price and I exited my short there.
After chopping around 4170 for an hour without bouncing back up I had my second trade idea to get short again.
Usually, if the market doesn’t bounce fast it’s just being sneaky and waiting for people to get long before it flushes them out!
Hitting a scale and re-entering at my entry I kept filling my bags until we again had a dramatic drop to a new low of day where I exited the rest of my position…
Making for a $987 profit from the morning action – good going considering how unbalanced the profile was 😉
I’ll be checking the screens this afternoon for more trades.