Wednesday, December 9, 2009

Closed up shop


Gotta be happy with a winning day. 3/3 isn't bad, even though I only took 2 of those signals. All I look for is 3-4 trades in a day.

Layer Out of IB


Good trade setup here. I am personally not taking this trade as it is later in the day and crazy things tend to happen. You have a layer out of the initial balance as well as a layer through the "ledge". Good buy signal.

Little Pop Down?


Sitting on the sidelines, however I am suspecting we will have a slight move downward and then a good run up into the close. Above is a 1 minute chart with some hand crafted TREND LINES!

GOT MY MONEY


Took my Money at 1090.25 right at the bottom of yesterday's value area.

Looking for Rally Long @ 1087.25


Long for a rally. Stop is pretty close at 1085.75.

Chop Zone


Trade on the lines only. Don't waste your time buying or selling within this zone.

Short Squeeze


Look for short term run up here our traders net position for the day went from 5,000 long to 15,000 short. Smart money will try and squeeze them out. Possible area to sell at 1091.25.

Heading Lower


I believe we will test our lows as it is at the tail end of the volume distribution for the day. I am not putting a trade on but I will look to see a test of the lows and if it will hold. If it does hold I will look to buy.

Profit!


I took my money and ran. 1090.50 was my target because it was the low of yesterday's value.

Short at 1093


I Sold 1093 even though we have a small Initial Balance, I think we will grind lower because we hit the top of Yesterdays Value Area High and failed to stay up there.