Wednesday, March 31, 2010

Trade 257: 3000 long UNS 1.04



3000 long UNS 1.04

- daily chart is very compelling, one of my fav setups - simple candle formation with volume confirmation
- the candle yesterday was formed with a high volume spike - generally the sign of exhausted selling.
- price is now heading back towards the breakout levels.
- the confirming green candle today is where I set my long position
- stops right below yesterday's high breakout point 1.00; 99c.