'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, October 15, 2012

Monday's Trade Setup

The market is on the verge of downward movement the past weeks.

For today's market, it gap up in the open only to lose its momentum after an hour or so.

The best entry if within the settlement price as the two ma's crosses over.

It formed a "u" pattern and a cup with a handle bullish formation.

Spotting today's market involves recognition of pattern which plays a vital part in finding a probable trade.

The most probable exit on this setup is when the market closes its session.