OVERALL CONDITIONS:
TRADES:
In the premarket my analysis noted that we were opening right above the zone where we bottomed yesterday - 4123.75 is a key level of support from the past (February) when I looked back on the 1h, same with 4100/4099. The closest pivots we're starting at are 4139 to the upside and 4108 to the downside, we're about halfway to each... as long as we're below VWAP I'm going to be thinking short. If we have a strong move down past 4115 we may get the move to 4108. If we have a strong move above VWAP and hold VWAP I'll look for a long to 4139.
My one and only trade was taken at around 10:25 - we had found support at around 4114 and moved up on relatively low volume up to VWAP and rejected fairly strongly. I got in short looking for the break of the support level at around 4114 and a big red candle down to lows - looking for approximately 4108 which was the pivot point I identified pre-market. This tested the low and found support and I had considered taking 1 contract as it did not break quickly. I was looking for a quick breakdown of the zone but we were struggling to break it. This eventually breaks down to my level and I take both contracts for a 10 point win. This was a pretty picture perfect trade. There were a lot of times throughout the trade that I had considered closing because we were stalling at the support level but I held to plan and it worked perfectly.