I have been patiently waiting for some mean reversion trades as I missed getting short earlier. These kinds of trades relay on oversold conditions and where the ideal entry is at a price level where there was some prior history of demand.
Today I started a long position for a swing trade on ANDE I entered at $40.16 and I have a stop around $39.50.
It is some times scary to enter counter trend trades, but these are very short term trades. I plan to exit the position tomorrow hopefully around $43. I am also putting up the same chart with Bollinger bands which are helpful in this kind of choppy market.
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