$59.10 hit and sinking still... I wonder if it will rebound to consolidate over $59.10 area? Note that price did bounce off the Pivot and rose to my entry before dropping again. I could have played long when price bounced off the pivot line. Although, my stop would have held and if I had just stayed in, I'd be up a whole lot right now! It might be time to reinstitute my exit rules, despite how limiting and boring (?) they were to try and trade.

First of the Day

Here's my first practice trade of the day. A short of TNA at 59.70 and profit taking cover at 59.42 at the Pivot as I expected a bounce. We might see TNA drop to the $59.10 area later.

Important to note: The white oval encircles the second touch of the Magenta colored line that I was watching from Friday, an area I decided to watch for potential Support/Resistance. It was hardly resistance the first time it was touched during the strong upward drive from this morning. But it sure held as temporary support as I surmised with price consolidating around it for a short time. A likely point of resistance in the future.