Thursday, February 17, 2011

End of day review 2-17-11 Thursday

ES opened and at first was below pre market resistance which gave me a bearish bias. Then we reversed and trended higher the rest of the day. Not crazy about trading in this area so will be very careful and will wait for something good to set up.
1st trade and only: This trade i took at resistance because i was expecting the market to reverse and rotate lower back to value instead ES decided to go higher and i was stopped for 8 ticks. This is ok for me because i had a plan today and i followed it. This was a case of ES just not rotating and the day turning into a trend type day.




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