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 25, 2012
As I mentioned earlier in my post, the chart below looks identical from the open yesterday.
Might finish same as yesterday, in between the open and the low of the day.
The market is descending as shown from the Globex overnight session.
Seems a repeat from yesterday's trading session.
Tuesday, January 24, 2012
"Any professional field requires commitment and willingness to go through successes and failures. The failures can be the greatest teachers. Study the failures to develop into a better trader. Perseverance will be the key to a successful trading career." - TRADING OUTLET
The market drops in the open and did not recover from its opening price.
It recovers a bit but stayed flat on his "belly" till the close.
A tough market to trade!
Exited at 12605 for a loss of 5 points...chart doesn't look convincing for a breakout...
Trade did not work out, got stopped out for a break even...will get it again at 12610 with stop at 12600...
Will put sell limit at 12641...let's see if it's going to work...
