Thursday, August 14, 2008

Thursday Day Trading: ZB Spike Reversal Trade $781.25

Click on chart for comments on trade. This trade made a total of $781.25 for every 2 contracts traded today. Entry came at 8:50AM Eastern time. This was a little after the RED REPORT CORE CPI release at 8:30AM. My trade was to go long at 116^10, 1/2 of contracts off at 116^16, the 2/2 off at 116^29.

1/2 worth $187.50 per contract traded.
2/2 worth $593.75 per contract traded.

Total on Trade ==> $781.25

Please note, that the entry at 8:35AM was right at a support level, sitting on the LOW of the previous day, if it would have closed below the low of yesterday, then I would have attempted the short trade.

With that being said, this support level kept me out of what would have been a bad trade. In any case, the trade at 8:50AM was supported with not only the LOW of yesterday, but VOLUME was good on the trade as well.

Good Trades,

David AKA Tiger

No comments: