Apr 042012

I was not able to trade today, at least not until the last 90 minutes.  I took a short at 94.50 expecting the EMP broken support zone to hold as resistance.  It wasn’t working so I scratched the trade.  I did not have a V2 signal there, but I did have signals on a V2b prototype that I’m currently testing and hope to make available next week.  The excellent trade location allowed ample time to let the trade play out and scratch it.  I wasn’t going to hold it into the close with NQ being so strong.  It ended up dropping but never would have hit my targets.  I did the right thing.

I commented on how I interpret the signals for the rest of the day.  This makes a few days now that both the high & low were caught by the signals.  That last long set up perfectly except for one minor thing:  it happened while I was eating dinner.

Hope you all did well, tomorrow is the last trading day before the Easter holiday weekend.

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