Tuesday, December 8, 2009

Trade 204 - WOW




Shorted 150 WOW @ 28.143 on 25/11/200

Strat
1/ ASX has been stalling at key levels
2/ WOW seems to have stalled onthe weekly charts, a price move to the 200MA on the weekly charts, probable.

Tactical Entry
1/ breakout below of consolidation on the daily
2/ price staying below resistence price and 50dma

Risk
1/ stops just above the pivot high 28.68
2/ target is abc extension around 26.30, with a moving stop loss
3/ risk/reward 2.15/.53