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

Thursday, December 23, 2010

Observe & Trade


Showing the clear view of the trade from YM (DIA chart; they are similar) in a one-min. time frame.

The advantage from the multiple time frame is you can exactly point out where to enter and exit.

The entry was when there are small bars that are tightly consolidated.

The exit also is where it resisted, in this case the R1 which is clearly identified.

That's complete the trading 101.

Wish it went up further but due to lack (maybe) of participants, it didn't.