Short position of SIMSCI was established at 291.4 after a descending triangle is formed. Close trailing stop is used as market is rather undecisive

‘You lost some, You win some’, that was what happened to DJ. It lost around -70 point previous days, and gained around +70 points last nite. In the first hour of trading SIMSCI was undecisive. I have yet to see a clear direction for today.

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After seeing another ascending triangle formed in the afternoon session, I went Long on SIMSCI futures at 291.3. Long trade was closed at 292.3. I do not consider this as a good trade, though It was a profitable trade. As my initial target was at 292.6 which was found as intraday resistance. I exited earlier […]

Long position has been established at 291.3. This is second entry of the day to Long SIMSCI futures.