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

Monday, August 6, 2012

Monday's Trade Setup

The market surge in the open giving room for a long trade.

Buying in the open below R1 and selling above the R2 is the nice profitable trade setup.

Though it was a choppy move as seen from this 5-min. time frame, but the upward move of higher highs kept the trade alive.