Thursday, June 7, 2012

Made up yesterdays loss plus a point.  There were many opportunities this morning, but I only took two of the four setups available.

I passed on the second leg of the downward move, partially because I was not ready for it when it happened, although I had the area marked up.  I did however take the 3rd leg down, due to the inside high that we have not yet tested so that made up for yesterdays counter trend loss.

I then saw a wedge ready to break, however I didn't like the time of day and didn't want to get caught up in a potential congestion area, so I decided to wait for confirmation.  We broke out hard, and I took a break of new highs.  I got lucky as my target was filled to the tick, which usually doesn't happen.



Above is the higher time frame, below is the execution level




Finishing the day at +2 pts, approx 2.5 hours after the bell.

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