Thursday, November 17, 2011

Sitting, Waiting

Below is a trade I am patiently waiting for, ready when it presents itself. If it presents itself. As of now we have a bearish rising wedge. What am I waiting for is the break below, everyone to get short, and it hits the purple line-support, so I can buy. The breakdown ends up being a fakeout, like is happening fairly often, and a vicious bounce follows. My buy target is the green box on the purple line support. Maybe not an extremely high probability trade, but low as hell risk, as long as size is kept small and stop is appropriately positioned. maybe 122.80 stop, 1/2 size.


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