Monday, November 9, 2009

2009-11-09 another try to the Oct high.

We have 1.5060 as high in Oct 21 2009, and now we are not far away from it. Stock market is up 140 this morning, and it's this year's new high. The first thing pop in my mind is, will this be a double top?

1. What is daily 3 hourly hourly 15 s/r and trend. Daily is up on 5 and 62, flat on 13, 3 hour is all up, but quite extended. hourly is all up as well, current resist at 1.5020. 15 minute is side way, with a rising 62 ema. 5 minutes is purely side way with hi 5020 and low 4980 (40 pips range).
2. Is there any news coming out in 30 minutes, what's trade. There is no news in the coming time.
3. today's spread:0.9
4. What's the size of today, and what's the max risk. normal size, will risk 20 pips.

I will go long at 4980 and short at 5020.

10:16, bot some at 4990, stop at 77, take half at 00 and rest at 20
10:40, moving up, I was 1.5 pips away from my first target, now change my stop to BE, I can always buy later at lower price.

0 Pips for today, as it's not going anywhere.

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