A narrow range day with moderate volume. The Qs hung to the PP like glue and retraced to the pivot on every rise and fall. The pop in the NYAD at 13:20 got my attention, but the TICK was not supportive. 14:00 saw a fade in the NYAD and TICK and with the parabolics on a SELL in the Qs and the NYAD, I went short the Qs at 48.62. This was late in the day for my typical entry since, as those who have followed me for a while know, I'm not currently holding positions overnight. This was almost a mechanical trade as my sole focus was the 5 minute parabolics. I probably stuck with the trade too long, as the dithering around the PP at 15:00 was a clue of more downside to come. Nevertheless, the parabolics fired a exitshort at 15:00 and I exited at 15:05 at 48.33.
Net time in trade - 65 minutes
Trade gain - .29
Not a great trade, but I took what the market gave me, followed my trading plan and maintained my defensive posture.