The YM started down this morning and just kept on going.  I only needed two trades because there was plenty of points to be made.  Notice how the YM respected the SR levels as it moved down, creating a waterfall effect.

10/19/07 YM Trades


Trade 1 – I traded the pull back to the 13857 daily SR.

S 13841  X 13857  T1 13857  T2 13812  R 32  P1 10  P2 29  PT 39

This trade was quick and in retrospect I should have probably moved my T2 target out since the market was moving so quickly.

Trade 2 – The YM moved down and made a pull back close to the 13812 SR.

S 13792  X 13810  T1 13777  T2 13740  R 36  P1 15  P2 52  PT 67

This was another nice trade.  The YM was moving strongly to the downside and I caught this down move at the right time.

 Area A – This area provided a HL pull back after a HH signaling a potential buy trade setup.  Any long trade today is risky because the YM is trending down hard, but this one would have reached the first target.