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

Wednesday, April 18, 2012

YM Trade Setup

The market made a choppy move today for it run out of gas from yesterday's breakaway.

And also due to some unfavorable earnings reports from other leading stocks.

Showing here an entry setup for a long trade.

The 3-min. chart here from the YM futures market shows an interesting pattern for a bullish trade.

A mini cup and a handle formation.

The entry is at the lower arrow and just monitor it till you meet your desired profit.