Tuesday, May 3, 2011

Trade Guideline For Wednesday (Nasdaq NQ)

Tuesday was another follow-through down day following a reversal day (Monday) on the daily chart. For Wednesday we may get another down day (3rd day down) or a reversal-up day with morning decline that get reversed and close in a positive territory at the end of the day.

I will use 2390 as key Line-in-the-Sand for Wednesday.
  • Long above targeting 2400 then 2410
  • Short below targeting 2375 then 2360
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