Monday, March 16, 2009

Trading Alsi 40 index

From the 10th of March trading at around 16520 one was long on the 60 min chart and closed out at 17300 on the 11th laste for a whopping 800 pts in 24 hours trading ALSI 40 index.

Then a falling wedge formation starts to develop and it consolidates for most of the 12th and then breaks the upper trend line of the falling wedge at 16h00 on the 12th to go long again with an ALSI 40 target of 600 points from the 17200. Gives us a top end target on the ALSI 40 index of 17800 odd. We happened to break 18000 and are now battling at this level. Lots of resistance.

Today there were two very neat trades using the 15 min chart. Go long at around 12h00 today from 17900 to 18145 which is excellent. Followed by another trade short on ALSI 40 at 16h15 18870 down to the 50ema 17945 for another good number of points.

For more info on ALSI 40 trading visit the ALSI Top 40 Apprentice...

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