Wednesday, October 2, 2013

/ym for 10/3


Trading plan...

1. Seeing a pretty head and shoulders pattern forming on the weekly, which will indicate that we should expect bearish action this week.

2. Also, as a trend trader we like following the trend which is down at the moment.

3. Thurs is a great day to fade gaps, an up gap would be a gift, I would be more skeptical on a down gap fade just because of this downtrend we are in.

4. As usual keep an eye on pivot levels, VA, and monitor the market internals for entries, stops and limits.

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