Thursday, February 2, 2012

2.5pt Gap up + test of Strength = long drifter rally till 3rd Ti

Today we had a 2.5pt Gap up off of Prior days strength but stalled on the open selling off till the 1st Time Interval at 7:00 where we turned for a nice rally into the 2nd Time Interval.
Recap Notes:

Trade Selection - Good Trade sequence with good management could have squeaked out a bit more but no regrets.

INTANGIBLE OBSERVATIONS:
Trade the Trends - Trading the trends until we reach a marked Time Interval, at which point we need to consider exiting or reversing, Be aware of the Cycle that happens just at the Time Intervals, they are high quality trades especially in the longer term term direction.