Wednesday, November 18, 2009

Trade 199 - QAN short



Short QAN 500@2.75

Strategy
1/ ASX falling
2/ AUD seems to be falling (negative for transport related)
3/ Daily MA, price point resistence, 21MA crossing 50MA

Tactical Entry
1/ Price fell below 5/15 minute 50DMA

Risk Management
1/ stop 2.85 - last high pivot price, above MA's
2/ Target exit 2.60
3/ 10/15 - risk reward - with potential breakout to the price extension 2.46