Tuesday, June 18, 2013

-1pt Gap Open + 5:30 News With No reaction + G8 Meetings All day =Chop Range till late breakout

We had  -1pt Continuation Light Open off 5:30 News. With G8 meetings all day it appear that we may chop around in a tight range.
Recap Notes:

Trade Review : Good-Solid

[GOOD]Seq Selection    [GOOD]Entries   [GOOD]Exits    [IDEAL]Exposure   [GOOD]Psyche
Sequence 1 - Today we opened light volume but the campaign appeared strong to the upside as we remained above 1634 early. This was my cue to take longs. So i was able to ink a small gain out early on a 15 single cycle.

Sequence 2 - Same Trade as the original just a reentry at higher prices, Good entry. I wasnt able to get much on as price moved away quickly but no regrets. Better light form now. .

Sequence 3 - This was 45/15 cycle that was failing, i bailed at a good time and avoided a steep pullback and extra exposure.

ADJUSTMENTS & OBSERVATIONS:
Keeping size down due to G8 Meeting and choppy opens. Simply not willing to sit through it today.