Kamis, 28 Mei 2009

Gap Fade - SPY

The SPY setup a perfect gap fade shortly after the open, when prices tested resistance and formed a descending triangle on the 1 minute. The red line segments are how I managed my stop. After the double bottom, I exit half and was stopped on balance minutes later. I was hoping the PDL would hold as resistance but the bulls wouldn't have it.


A choppy session with a midday price/volume spike noted on auction results. The auction stuff is over my head so I stayed away and took the rest of the afternoon off.

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