"A man is not finished when he is defeated. He is finished when he quits."

Friday, August 27, 2010

August 27th


I had the last 25 minutes of the session to look at the market. I took a look at TNA and found an S/R line to scalp short with 12 mins to go. I was looking for a profit-taking breakdown toward the 7 EMA. It didn't come in that candle, or the next for that matter. In the last few minutes of the day, I decide to cover with a small gain. Just about a minute later, it did break down to the moving average. With some patience, I might have doubled my gain on this simulated trade.

The closing doji on the 15-minute chart of TNA looks interesting for Monday's open, though much headline pressure could arise between now and then. I'm thinking a monday morning breakdown, but who knows!