Rhody Trader

Today was a tricky one. No doubt about that. The market opened between last Wendesday’s point of control at 1335 and the point above which prices had been rejected that same day (1339). Given that these prices represented both an opening gap (many of which have been filled of late) and a situation close to previously rejected levels certainly suggested a sell opportunity. 

Alas, that was not to be the play that made the profit today. It was actually the drop down to the 1335 point of control level which was to provide the best entry, a long one. The market ran of very nicely from there.

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