Tuesday, September 2, 2008

ER2 Trade (Pre-Market) 9/2

Enter SHORT at 739.2
COVERED at 737.2

Profit: 2 Points


739.9 has been rejected 3 times since ER2 began climbing up from 736.

Demand level is at 735.5

With stop loss at 739.9, I'm risking 7 ticks for a potential reward of 3.9 points.

That said, 736.7 seems a likely support, given that it's typical of ER2 to trade within a narrow range when both the Europe and US market are closed.

Hence profit target was set at 2 points.

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