I had suggested buying a break down to 14830. The low tick yesterday was 14,835. Currently trading at 15,186. 351 points from bottom to top.
If you follow my letter, you know I am a big believer in scale in buying as it approaches a technical target. I scaled in 2 lots between 14870 and 14850 the lowest tick i bought was at 14850.
Now, after a 300 pt rally, take profits on 1/3. Its trading at 15,200. Then move your stop up on the other 2/3. The upside target is 15,298. Scale in your sales from 15,240 on up.
Have a good weekend.
Hope you all caught this trade. FYI, 100 pts on a mini is 500 bucks, so on a mini, you made 1500 a contract.
If you had the full, you made 3500 a contract.
1) do not let any winners turn into losers.
2) take profits on 1/3 so you reward yourself for your good decision.
3) Sit tight. The low may be in for the summer.
CER