Friday, November 20, 2009

Trade 201 - short NWS



250 short NWS 15.75

Strategy
1/ asx200 is down
2/ media sector is down, nws is lagging
3/ 50 DMA has dropped on ALL charts

Tactical Entry
1/ HS on hourly, break below consolidation on 15 minute chart
2/ 5/15 minute charts both downtrending

Risk Management
1/ Stop @ 16.01
2/ Target 15.05
3/ Risk/Reward 26c/70c
4/ 10 days holding period