1. We bought at the open playing a small gap. We liked seeing that the open was above the VAH and the High of the 29th. This creates a level of support and we went long with a target around yesterdays high and R1. We hit and netted 50pts.
2. Another great trading opportunity was when it broke out about its month high. Either we will see it break out to the up side or fail both are great entry points. We see that it failed.
3. Our 1 hour level of support held well and we will continue to monitor this area.
4. We also saw the FOMC create some choppiness in the market around 2pm. Hubert Senters has a trade which would have worked well in this situation(FOM 1-2-3 trade...Google it).
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