Wednesday, December 4, 2013

PB Day Two 12-4-13

Pull back day two follow though as expected. ES had a 12.25 point range. My S2 was hit within 1.75 point. We may see Fib 78 if 62 % could not hold tomorrow. ES is back into previous balance area now.

I had bunch of orders spread into next two weeks but only two were filled. I reduced my order size for safety curtain in case this pull back is more severer.  

I am getting better at identifying S/R levels as my home work. The key is to work on waiting for the levels calmly. I am still too eager to trade. I held a SPY call option called by Vader today which I did right. I will wait to see if we have a possible turn around tomorrow or Thursday when people re-position for the job report.

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