Rhody Trader

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Here’s how I should have traded things today. We won’t talk about how I really did.

Today the key levels to start the day were 1328/30, which was the point above with prices were rejected on Tuesday and Monday’s point of control, and 1344, the point of control from the upper part of Friday’s distribution.

The way to play today was to buy near the open when prices got down to 1329. The market then rallied up through 1340. It stalled out and pulled back, but did eventually get up to that 1344 (and beyond) before rolling back over and back down into the low 1320s, close to Tuesday’s breakout point.

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