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

Friday, September 28, 2012

Friday's Trade Setup

Today's trade was not quite convincing but the price action and the double bottom pattern made it possible to place a trade.

The double bottom is recognizable within the support level (S1).

The entry is at the arrow below for a long trade when the ma's crosses over.

The exit is at above the pivot line when it starts to lose its steam.

Making a trade when the market is like this especially it's a Friday needs full concentration in watching the price movement.

Price action is all that matters and some kind of precise trading experience.