Wednesday, August 27, 2008
The day in review - top heavy
Heres the Profile for today and clearly we have established value higher. However it has a topping formation meaning price rejection as of now above the 85s.
Look at the order flow at 9:53 pst. 1285 had a big amount of resting offers that got reloaded. Then they hit the bids too pretty heavily. There weren't enough timeframes involved to break the level yet. It was a good short opportunity on the second attempt. I did'nt take it though.