Wednesday, February 4, 2009

Day Three -- Made up for day two

I was able to make up for yesterday's wash with a decent gain today. There weren't a lot of opportunities until about 12:45 when we got a bear flag out of DIA. The first flag met its target and then created a second bear flag which went on to meet its target (and then some).

I got out before price dropped below the 200 period moving average (red line) and I missed the divergence trade back to the 20 period moving average (green line) after the day's lows. I came out of the day with a 2.5R gain on a day that was kind of squirrely. I'll take it.

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