
With the NYAD running at .07 for most of Tuesday, Wednesday's uber pop to something like R25 was a dead give away that the open was going to retrace.
The subsequent downslope in the corresponding 2 minute TICK provided further confirmation of failing enthusiasm for the opening pop.
The parabolics actually gave us 2 quick short entries and once the NYAD and TICK leveled off a few minutes after 10:00 it looked like time to cover. With the Qs performing a quick penetration of S1, and no follow through, the cover signal was confirmed.
This quick trade produced a low exposure $ .40 in just 30 minutes, or a little more than $.01/minute, which is the level of return that I target for these 20-60 minute positions.
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