Thursday, December 10, 2009

Trade 210 NWS





Short 225 NWS @ 15.90

Strat
1/ Market down, when employment numbers come out better than expected = negative
2/ Murdoch selling NWS shares
3/ Range bound markets in Daily Channel

Tactical Entry
1/ 15 minute breakout below 16.00
2/ fall below 50MA on 15 minutes


Risk
1/ Stops @ 16.26
2/ Target 15.10
3/ 36/ 80 risk/reward

This looks to be one of the more 'easy' setups, one that I could've capitalised on earlier if I had shorted it at 16.04 when I felt that was the breakout point - I waited for greater confirmation, also thought it might be a range bound day - the ASX falling 1% made me pull the trigger.