'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Tuesday, December 14, 2010

Observe & Trade


Showing this 5-min. chart from Russell 2000 (TF), one can easily observe that this is a candidate for a short trade.

From the previous close, it opens up but stay below the pivot from thereon until it offers a short confirmation two hours before the close.

Monitoring the market the whole trading day needs a lot of patience, that's how in trading.