Posted on December 13, 2009 - by Drizzt
Trading Log:Olam Review – Wait till i sold of at a profit then congratulate me
This week’s great lesson turn out to be my Olam trade. I entered this trade looking for an upside target of 2.97. It would seem an achievable target as my entry point at 2.69 is near where the trend lines congregate. MACD looks to be putting in a nice cross for some short term uptrend.
True enough, it ended positive for a while until it met some heavy resistance form from the October highs at 2.82. My decision then was to sit tight and observe if it will take out that resistance and reach my target of 2.97. Well it never did. The resistance proved strong and it turn back till my cut loss yesterday.
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This entry was posted on Sunday, December 13th, 2009 at 4:46 pm and is filed under Active Trading, Featured, Shares and Derivatives. You can follow any responses to this entry through the RSS 2.0 feed.
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