'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 27, 2011

Looks like it is trying to make a comeback...

YM is now consolidating tightly...not much noise...participants are still on holidays..
Moving the stop to break even at 12229 to make it safe...
Will get back YM at 12229 with stop at 12220...
A pattern like this usually fails to recover...

Stop got hit for a loss of 21 points...it drops 50% from the opening price...not a good sign...
Move the stop to 12218...just below 50 percent retracement...