'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, September 29, 2011

I can see it is forming a head and shoulder pattern from my 15, 10, 5 and 3 min. charts...looking for a buy point at 11100...
This time I will test the market and will put a short trade at 11145 with buy stop at 11160...
Traded out at 11190...40 points gain...
Looking for 11200 run...possible selling point...
Bought YM at 11150 with stop at 11120...
The market (YM) is recovering as can be seen from this 5-min. chart.

Looks like the leaders in Europe are finding solutions with the financial problem out there especially the Greeks and or in Germany.

Let's see if it stabilizes, but I guess it's going to be a volatile open today.

Been reading a lot of trading news from reliable sources and most are getting chopped due to the unpredictable movements in the market.

The market is always driven by the news.

The market is now controlled by the HFT traders, and its going to be a while that the investors will takeover.

Most are on the sidelines watching the market do its (dancing) thing.



Wednesday, September 28, 2011

The market (YM) went down the hill today.

Whenever it tries to jump vertically, it goes down deeper, dropping him further until it looses his strength.