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

Sunday, October 9, 2011

The market (YM) made a three day move upwards last week.

But the way I can analyze this daily chart is that it might stay idle for a few day(s) possibly by Monday or Tuesday then will stretch its trend from there.

It might take a while to move from the range, 10500 (support) - 11500 (resistance).

It is still a traders market from this area but it is still a good area to make a long position with a good price stop to make it sure not to incur (big) losses.

For the long term investors (fundamentalist) is not yet time to make a bet in the market due to unforeseen/unpredictable events that is coming from the economy of other countries.