'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, January 17, 2012

The market surge in the open and run out of gas and drops almost where it came from.

The real breakout happened in the overnight session.

The good thing is that the overall daily trend is still on the upside.

A short trade is the most probable today after the high of the day.

As I mentioned earlier in my post, a surge in the overnight session will have a hard time (if not impossible) looking for a long trade in the regular open.