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Tuesday, May 18, 2010

#16-17


16 & 17- i could not resist leaving money sitting on the table so i waited as this was pushing down to the daily pivot at 43 on my 5m charts, i knew a bounce would come there and bam got yellow, the price sling shoted down to it i bought +4 fast. Many times i get asked why i like the contrarian trade instead of if i flel it is going to test the 43 then why not short into the down move and then exit and buy at 43. Well my issue is i just do not know for sure when it will test the 43 but i do KNOW that IF it does buyers are there waiting so to me that is a MUCH higher prob. trade. and as you see in the chart the price flew up 20 pips off the bounce. I got yellow and shorted +4 more. Hope this makes sense...

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