In my view we're in the middle of nowhere. Either we make one more pop higher before lunch or we start running longs' stops.
I tried to take that pullback 2 bars later after a green candle back up through the 20 ema, but my entry price couldn't survive the retrace 3 bars later.
Honestly I am still learning MP, specially to intrepid the movements for swing trades. IMHO the best book available at least to start with is this one: http://search.barnesandnoble.com/Mind-over-Markets/James-F-F-Dalton/e/9780934380539/?itm=7 Right now I am reading this one: http://www.amazon.com/Practical-Tra...=sr_1_1?ie=UTF8&s=books&qid=1283959332&sr=8-1 Here was were I found the information about the high and lows of the day. If you have any questions feel free to ask, although I am still learning.
I'd be happy to swap trades with you. All of mine have been losers. Someone needs to learn to stop trading against the trend.
Stopped out. Looked like it was forming a double top from the 7am high, we had 2 strong down bars that brought it for a close below the 20 ema. Entered at the open of that bar under the 20 ema. Loser.