With the Engulfing candle forming and the Stochs and Moneyflow heading down, looks like a shorting situation.
Trade closed: stop reached:
Did what I expected it to do. Entered at $57.44 and as it was falling adjusted my SL to $57.04 after it went below $56.95 and it reversed and executed the stop. Still a nice little profit.
@Amberdove, yep, that is where the small money is made. I know most people are swing traders, but I ran the numbers and I am comfortable trading the quicker times. I think of it like baseball. I am just trying to get a base hit, not hit a homerun. So if I make a $0.20 gain a day on ten contracts, I am happy. That adds up over the course of a year.