After a brilliant day yesterday, it came as no surprise that today was a more difficult day. The market gaped down, rallied up and then had a trend line break to the downside. There was a trader’s trick set-up at 10:00 am CST with a short entry of 722.40 The trade was up .80 points before stopping out with a 2 point loss. Here is the chart for trade 1.
Trade 1
Click on chart to enlarge.
The next trade happened after a trend line break to the up side above the 56 EMA. There was a trader’s trick set-upat 12:21 pm CST with a long entry of 726.50. The trade was up slightly, down 1.50 points, up 1.50 points before stopping out break even. Here is the chart for trade 2.
Trade 2
Click on chart to enlarge.
The last trade of the day happened after a trend line break to the upside followed by a trader’s trick set-up above the 56 EMA. The time was 13:24 pm CST with a long entry of 727.90. Here is the chart for trade 3.
Trade 3
Click on chart to enlarge.
Today was as expected…a bit more difficult for the day trader. Time will tell if we will get back to more normal trading (trending) patterns.
Have a great evening.
Best regards,
Ron
This is not a solicitation to buy or sell.
There is a risk in any investment
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