'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Tuesday, December 6, 2011

Was late to put an entry for did some important matters and the market rallied.

Too early to put an entry...lost 15 points...will wait after an hour or so...
Exit the trade at 12080...not a good sign...
Looks like it's a quiet open...
Bought YM at 12095 with stop at 12070...let's see if it will work...
Good morning fellow traders, the market is slightly trending up.

It might consolidate for quite a while because of the resistance at 200 MA.

Might be a good time to find the right location for a long entry.

Unless some big news that might influence the market, I don't see any big reaction from the participants.

Let's see how it goes and we'll just keep watching.


Monday, December 5, 2011

Just showing the concluding chart that I showed earlier that a pattern like this usually stalls or breaks down.

Was right for it breaks down two hours before the close.