Lotto

Wednesday, June 17, 2015

ASX 200 Morning trade - Perfect Setup - 18/06/2015

This morning the ASX 200 (XJO) formed premarket a triangle formation.

I waited for the triangle break for direction of the day.

Entered at 5564 Short, soon after the low of the previous day was broken and the market pushed down.

My target was 5525. This figure was confirmed on three different measurement from price action.

Market descend in a straight line down.

The hardest thing in a trend is to just sit and watch, I trailed my stop slowly as price pushed lower.

Price reached target and profits taken. :>

The trend is your friend.