Apr 22 2008
Today’s Trading Look-Back – April 22, 2008
I didn’t post a trade loo-back yesterday because frankly the market was REALLY boring and I didn’t do anything. Today was a little bit better, though for a while in the pre-open it was looking like we might get stuck in the same range around 1385 again.
The open was a bit lower, though, so there was a fairly easy bracket of 1386 and 1372. That’s yesterday’s point of control and the top of the April 8-10 consolidation area respectively.
 
I go short at a bit above 1383 during D period after the opening balance had been established and I saw weakness as the market was near the upper end of its range. When it got down into the 1373 area I exited upon seeing the aforementioned weakness starting to abate. Because the market didn’t really demonstrate any strength building at the time, I didn’t go long, though certainly that did end up becoming a decent trade.
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