Short: SIMSCI 29-May-2006 - Updated

Afternoon session (trade closed)

It was pretty fast. Within the first hour of trading, target was hit with 1.7 gain. This is an intraday trading. The trade off is missing bigger profit. This is trading. We focus on our own trading time frame, target, and stop. The chart above is 12-min chart of SIMSCI in the afternoon session. Morning session (trade setup)

SIMSCI formed a descending triangle with lower highs. An short position was established this morning at 292.1. Position is still open with current stop loss at 292.3, target at 290.4.

This is 12-min chart at opening of afternoon session.