1. I am not the biggest fan of fading gap up situations but since the /ym gapped up to the high of yesterday we will place a small stop and fade it. We used the high of yesterday as a level of resistance. This worked out and was an easy 30pts for us. Fading both the half and full gap fill would have caused us to get stopped out. This happens it comes with being a trader.
2. As we expected we saw that at 10:00 am the New Home Sales created a panic in the market.
3. Towards the end of the day we saw some extreme TICK moves and were able to fade them to our VA and collect a rough 30pts.
Overall it was a great day to be a trader. There were plenty of opportunities but the key is we continue to follow our trading plan.
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