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

Saturday, September 3, 2011

Last trading day's chart

Shown in here the 5-min. chart of the last trading day of the YM.

A big drop from the regular open, but the overnight session was already on the verge of descent.

Partly due to the unfavorable job's report.

Looking at this chart, the most probable trade is to put a short trade at around 1:00 pm. at point 11300.00.

Exiting at 11200.00 for a gain of 100 points, that's +$500.00 sure bucks for a contract.