Thursday 11 November 2010

20101111

DbPhoenix mentioned trading on the right side of chart.
It is to plan out the trade before market open.
Here is my analysis for today.

Price drop down below support in pre-market. What I'd like to see if price climb back up, bounces off support area. With a 5pt stop and 15+20pt target, I'll have a nice 3.5 Risk Reward ratio.

Price move according to plan but didn't move as high as anticipated. Top at bottom of range formed earlier of the week. Partly because it has already gain 30 points from LOD in earlier session.