YM did not make a breakout from the pullback at around 11:00 am. ET.
Instead, it starts to bow down after the lunch break as can be seen from this 5-min. chart.
No follow through!
Though there is a tendency for a breakout before the close, but the risk is high the way I read the price action.
Not much conviction on the part of the participants at this time.
'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
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