Friday, November 20, 2009

2009-11-20 Stock market pulls back.

Oil dropped, Dell missed, Trichet talked, Yen advanced. Such a busy morning.

1. What is daily 3 hourly hourly 15 s/r and trend.
daily is up on 62, flat/down on 5/13, support at 4800 and then 4625
3 hourly is down on all 3, support 4800/4750/4680, resist 4935, 5000
hourly down on everything, reisist 4880, support 4840
15 is down on 62, up on 5 flat on 13,
5 is down on 62, up on 5 and 13.

It's a big sell off overnight and now popping back.

resist: 1.4880, 1.4940, 1.4970, 1.4990, 1.5000, 1.5020, 1.5050
support: 1.4840, 4800, 1.4750, 4680
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.

Plan, short on reisist.

+6pips today..




Lessons learned.
1: Always let winner run.
2: Don't revenge trade.

Well, these are really old lessons, I had them on my notes for 20+ times at least... don't know when can I really learn.

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