'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 28, 2010

Observe & Trade


Out from my trading table and showing this 5-min. chart from DIA (YM, e-mini).

It formed a cup and handle pattern.

Nice up trending move after it drops for profit taking in the early trading.

A good entry at consolidation above the 20MA in between the pivot and the previous close.

Other e-minis did not make a decent move, TF and NQ, while ES just made a slight ascend.