'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, March 24, 2012

The market made a nice pretty move last Friday's session.

A surprising move considering a Friday trading is usually a profit taking day.

But that's not quite a surprise since the market is on the downward trend since Monday's trading open.

The Dow made a nice classic pattern to trade, a cup with a handle setup.

It drops further after the open to make a small cup formation opening for the setup at the consolidation when it reach red line.