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

Thursday, July 5, 2012

Thursday's Market Trade

The market drops early in the open only to make a major reversal from the (S1) support line.

The entry for long trade is from the S1 with exit at (R1), resistance level.

The S/R levels plays a major part in trading, they are basis for entry and exit points.

Though they are not conclusive, but they give some clues when to enter or exit.

The important in trading is the price actions.

Shown is the 5-min. chart where the entry and exit are pointed with an arrows.