Wednesday, April 29, 2009

JEC


JEC's 1st candle was strong but 2nd one has a long upper tail followed by some selling. 4th and 5th candle were almost doji with long upper tails. 5th was also an IB and 20 EMA was acting as resistance. Shorted on the break of the IB with target to PDL. All EMA's were in bearish orientation. Would have preferred the 5 EMA to be sloping. It took time but finally did reach the target. Should have looked for long opp. on day when market was uptrending.

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