Thursday, September 29, 2005
9/29/05 opening
The market tanked on the open and I just watched. I was looking at the s/r levels and waiting. Since we have been range bound for the last few days I waited until it hit the first s level at 121925. bot 1 es. We then dropped a little lower into the 17's and it stablilized. I bot again at 121800. I had my stop in at 121500, below the previous lows on my 60 minute chart. The market slowly formed a wedge and I waited for the breakout. I took my first contract off at 122025 and it rallied again with a high tick of over 800. I sold the second contract at 122225.
After the high tick the market proceeded to drop down 2 points. I did briefly bring up my stop but I got out completely just after that.
The high tick was a sell point to me that I missed because everything was going to fast. That's OK. The process work. I'm waiting for my next entry.
After the high tick the market proceeded to drop down 2 points. I did briefly bring up my stop but I got out completely just after that.
The high tick was a sell point to me that I missed because everything was going to fast. That's OK. The process work. I'm waiting for my next entry.
