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

Friday, December 23, 2011

The market rolled and Santa bought the market in time for Christmas.

Buying the market in the open and sell it in the close is the right trade for today.

Though it's Friday - a usual profit taking day, what was left in the market are the investors.

Traders are already on a holiday enjoying their profits.

That's why the market went up smoothly, no volatility!



The market rolls...

Showing the concluding trade that was just conducted.

The entry was at the bottom arrow and the exit was at the top arrow.

Notice the entry was at the R1 and the exit was at the R2.

A perfect classic trade of support and resistance.

A smooth trade, no noise!

Probably the HFT are already celebrating their Christmas loot.

Sell limit got hit for a gain of 39 points...
Putting sell limit to 12174...moving the stop to 12145...
Trade is gaining ground...moving the stop to 12140...
Moving the stop to 12125...