Wednesday, December 16, 2009

Trade 211 UGL




Short 150 UGL @ 13.37

Strat
- weekly is down
- daily is down
- daily sitting at 50MA good entry area

Tactical entry
- 13.65 looks to be good stop price/MA resistence
- 15 minute chart looked unable to hold the early day highs - sign of weakness

Risk
- 13.70 stop
- 12.50 target
- 23/87 risk/reward