DIA looks top heavy
DIA, the exchange traded fund for the Dow Jones Industrial Average, looks a bit top heavy...
She has failed to hold her gap two consecutive days...

DIA, the exchange traded fund for the Dow Jones Industrial Average, looks a bit top heavy...
She has failed to hold her gap two consecutive days...

NZDUSD is sitting at support (.6842)... Today's low .6834

This creates a pretty good risk reward scenario...
One can risk about 20 pips while targeting 40+ (risk 1 to make 2)...
I want to pick up the trade around support (while making sure support has not been broken) and pay no more then .6850...

I also want some GREEN lights on my side (not only do I want the probability of support holding true but I also want the probability of Green lights):

The most I will pay is .6850... Today's low .6834... If we trade below .6834, I want out...
With that being said... I'm looking at a 20 pip stop...
If I target the high end of the range, I'm looking at about .6900 or roughly 50 pips...
I will play it a bit conservative and target 40 pips...

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From: Derreck
Sent: Monday, August 24, 2009 5:01:26 PM
To: info@commandtrade
Subject: Alligator Mouth Entry on 1 minute charts
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