Inside Bar Entry

This entry was taken when an inside bar showed up after price put in a lower high and the RSI(14) was very close to touching overbought 70 level. I scaled just over 1/2 the position at +26 and closed the remainder at +45 when the next inside bar showed up and the RSI(14) was touching oversold 30 level. This would have been a great close and reverse opportunity, but I was not quite ready to take it on. Hopefully next time. Overall, I wanted to stay with the longer term down trend on cable so I was looking for short opportunities on price pull backs. This session was a little slow compared to last night where price moved substantially lower. Unfortunately, I was returning from a weekend get away with the Mrs. and was unable to participate in that session.

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