RE: SIMSCI 10-JUL-2006: Second trade: Long

July 10, 2006 – 11:58 am

After the failure of first trade, I was looking at second opportunity. An ascending triangle was formed with RSI making higher lows and MACD moving above trigger line. Another main reason to go Long of SIMSCI was rally of Nikkei futures from its low opening. Nikkei managed to recoup its morning losses from -200 points to less than -100 point.

Long position was established at 290.7.

From the desk of Tradergav.com


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