Rhody Trader

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Today was definitely an interesting one. Run it up. Run it down. End relatively little changed.

Yes, I made some money. I should have made more.

The main levels to watch at the start of the day were Friday’s point of control at 1422 and the 1431 level which goes back to a January failur point. The 1436 area was an important one over January 8/10 as well, and 1444 was a rejected peak area from near the start of the year.

I wanted to buy at 1422, but the market didn’t give me that entry. I then tried a tentative short near 1431 when it looked like the market might have stalled out, but obviously it kept going.  After it rallied through 1436, though, it couldn’t must enough punch to reach the 1444 area, so when I saw the momentum failing once more I got short.

Unfortunately, I got out when the market held up around 1431 again. Once more that level burned me. I could have made something close to another 10 points had I been more patient.

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