Wednesday, February 5, 2014
No Holy Grail here. Just simply waiting for the market internals to drive price action at a given point. Today was exactly just that. Hindsight 20:20 offered several trading opportunities today but the call for the downside move under the Weekly S3 and CAM L4 on a RED internal market and a negative AD line under -750 was all I needed. So, all I took was 1 trade. I’m ok with that. Market ended turning upside on an EMA crossover back into range, but without the strength of the AD line, no playing in the sandbox. Plenty of days I’ve been able to run the ride up or down on strength or weakness. How quickly we forget…we just had a 280 tick downside slide. How far did you ride that train down?
To follow the charts posted in this video click here: Stocktwits