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Master Trader Recap: Aug 19th Ice Man Makes 3pts in 90 minutes

Ice man makes some Norwegian Kroner!

Hey everyone! Today I got held up at hockey practice but by the time I came home, I was able to pick up some nice clues from the first hour of the market. As you can see from my first chart

0819 chart 1

I entered the first trade at the midband because the market expectation was still to the upside. I was expecting a pullback to the midband and the trend to continue to the upside. If you look at my naked chart, you will see that we can see a pattern in the market!

0819 chart 2

I minimized my risk on the first trade when I realized that the trend was going to fail, no need to leave 5 ticks on the table. With a small run to the downside, I was confident the trend had changed. The second trade was a 1.5 point profit, I exited a bit early to bank some points. I was still confident the market would continue down so I re-entered a tick from the midband and banked 2 more points. The final trade was a graceful exit 1 tick winner because the market was moving slowly and the baby was screaming!
Today was a great example of how paying attention to the overall movement can really pay off!

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