Observing the stock market technicals and exploring opportunities to trade
'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, January 11, 2012
The market was choppy today and a difficult trading if not impossible to make a trade.
The only viable trade I can see is the last hour session where there is a wedge/triangle formation at around 2:30 pm. ET.
Other than that, the market will chop you up into pieces.
Exited the trade at 12395 for a gain of 25 points...
Stop move to 12380...
Looking to sell at 12420...
A choppy trading day in the market...
Was out when i set my buy limit and the trade made a reversal for a lost of 20 points...short trade did not work out...will buy the market again at 12370 for a long trade with stop at 12350...
Will let the trade play by itself and will put a buy limit at 12320...
