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TRADING BLOG EP. 26 - TRADING BACK TO VALUE

Today I took a quick buy position on the S&P 500. As you guys know, I only trade the S&P 500 nowadays. So, I went into the day with a bullish bias. This is because of some higher timeframe charts, like the weekly VWAP that I was paying attention to.

So now all I needed was some key levels to trade off of to take action on my bullish bias. The first level I had in mind was no good, as no buyers stepped in, so I had no reason to get long. The market ended up trading lower into another level that I had in mind.

The daily VWAP was very over-extended at this point, and some strong buying came in at my level. So I had no reason to not take this long position. I managed this trade very well as I was able to get out of the position perfectly before the market reversed on me & started moving the other way.

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