Day Trader – Trading Plan 27 January 2011
Yesterday an update was posted that first resistance would be the likely target to exit short 1291 held. 1287.25 came spot on and I exited at 1287.75 and went long until 1294.50-1295.
At ramapage’s chat room we discuss the intra day targets.
As for today, I reckon we see a drop to either 1292 – 1291.25 or even a drop back to last break out area 1288.25 1287.50
I am holding 1295 & 2319 short and would exit at above levels.
Since we are still in an up trend, it means buy the dips unless the trend is changing. An entry at 1288 with a tight stop would make sense and target would be re-test 1296 or even a new high at 1297.75-1298.50. The latter would be a short entry for a couple of handles.
As long as 1287 is not broken, I do not see any reason to fight the trend.
Once 1287 is broken, there is ample room to the down side to join and short bounces is back on the agenda.
Meanwhile, stay with the trend and good trades to all
Remarks:
Please click on the adverts as Lotion Boy made a great effort to update his site constantly. He promised to have an automated chat service too so we do not need to click refresh site all the time. His effort is highly appreciated and we shall support him.
No comments:
Post a Comment