'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, May 12, 2012

Friday's Market At The Close

The market surge (NQ) in the open only to bow down in the close.

It runs out of steam when it reach the top at around 11:00 am. ET.

I guess that's the usual move especially it's Friday, the profit taking day.

It's been lagging for almost the whole trading week, suddenly this Friday it burst like a gunfire in the open.

The best entry here for a long trade is above the red line with that small candle.

The exit should be at the top level with that big red bar around 11:45 am. ET.

That's where the lunch time occurs in the Wall Street.

Better to take the profit before lunch time, otherwise you will end up getting your lunch at MCD.