Tuesday, July 26, 2011

July 25 - Short TNA

Started the day with a long in SLV on the break of 15/3 candle high. Ended this trade in a loss.


TNA gapped down and immediately rallied. It met the downsloping EMA's on the 15 min. chart which acted as resistance. TNA consolidated and tried to break this resistance throughout the afternoon but finally gave up. I love this setup because it produces some good results and the win ratio is much higher.Shorted TNA when price took off support and covered at S2.

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