Following Friday's plan, I purchased the August ATM calls at 6:58 am (PST) on a wide 2 minute hairy bottom, and trailed the Qs up to the intradday R1 pivot target at 48.85. The Qs formed a squat bar at 48.84 at 8;30, the 2 minute parabolic flashed a reversal signal and I closed the trade. I had the opportunity to re-enter long again an hour later, but felt unsure of the trade, due to the expected Friday pm fade (which never happened) and passed.
Saturday, July 07, 2007
Qs hit Friday R1
Following Friday's plan, I purchased the August ATM calls at 6:58 am (PST) on a wide 2 minute hairy bottom, and trailed the Qs up to the intradday R1 pivot target at 48.85. The Qs formed a squat bar at 48.84 at 8;30, the 2 minute parabolic flashed a reversal signal and I closed the trade. I had the opportunity to re-enter long again an hour later, but felt unsure of the trade, due to the expected Friday pm fade (which never happened) and passed.
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