'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, November 28, 2011

Moving the stop a little bit below the 100 MA at 11490...to make it more leeway with the volatility...
Adding one contract position at a price of 11510...
Looks like the stop price is going to get hit...might put/move a wider stop at 11500...
So far the market is moving pretty steady, not much noise...
The market is consolidating tightly as shown from this DIA chart, similar to YM.

I guess it will continue with its trend.

Trade with the trend...the trend is your friend...until the end...as they say in trading lingo...

Got filled at 11525 for a long trade with stop at 11510...
Showing this 5-min. chart of the YM Futures, which continues to go up.

Trading this kind of pattern needs a lot of confirmation considering the market is news driven.

Waiting for a pullback can be the best place to locate an entry.

But I guess the right place of entry is at around 11520 - 11525 for a long trade.

Let's see how it goes for a pullback.