Rhody Trader

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Today ended up being a pretty straightforward session. The key levels of note were the 1294/95 point of control areas, the 1288 level below which prices had been rejected on Friday, and the 1272 level below which the final rejected low was created on January 23rd. 

The market actually started the day right around that 1294/95 zone, then traded lower, providing a decent buying opportunity at 1288. You had to be in and out pretty quick, though, as the market traded right back up to 1294/95, then failed. Ideally you would have covered your long and reversed at that point. The market later did provide a nice entry on the bounce back up to 1288 before heading down into the area of the 1272 level.

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