Was not able to put on a trade early in the open due to pressing matters.
The market is calm as of this time, not much noise.
Will try to put a long trade at 11961...let's see if it won't get stopped out at 11945...for the YM...
'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**
Wednesday, November 30, 2011
As I mentioned from my earlier post, unless there will be a positive news that might erupt from somewhere, the market will rise up.
And I was right with my perception, the market is just driven by the news.
It might be hard to put on a trade in the regular open today for the market already went up by almost 200 points in the Dow (YM).
Because the market always make its big move in the overnight session.
And I was right with my perception, the market is just driven by the news.
It might be hard to put on a trade in the regular open today for the market already went up by almost 200 points in the Dow (YM).
Because the market always make its big move in the overnight session.
The market is showing a negative weakness as shown from this chart in the Globex market.
It might just go sideways today in the regular open.
Unless there is a positive news that might erupt from somewhere, it might stay idle the whole trading day.
The market is just operating from rumors nowadays, that's why traders are to be reminded to "trade the rumors sell the news".
It might just go sideways today in the regular open.
Unless there is a positive news that might erupt from somewhere, it might stay idle the whole trading day.
The market is just operating from rumors nowadays, that's why traders are to be reminded to "trade the rumors sell the news".
Tuesday, November 29, 2011
A choppy market trading today.
Not much action today for the participants are watching each others back.
I can say the market is confused and looking for a direction.
I can't find a nice location for a swing setup today except to just wait for the next trading day.
That's how in trading, it's like fishing...waiting for the bait takes time and needs patience.
Not much action today for the participants are watching each others back.
I can say the market is confused and looking for a direction.
I can't find a nice location for a swing setup today except to just wait for the next trading day.
That's how in trading, it's like fishing...waiting for the bait takes time and needs patience.
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