Wednesday, October 31, 2007

DSX Quick Trade

I got in on DSX a little too early. I didn't plot out the resistance and got in just under it. When I bought it is when I decided to draw the resistance lol, which is the top red line on the chart. Then it made sense as to why it was struggling to break those levels. Had a quick dip which is when I should of gotten in as it bounced off support but what's done is done.


it advanced up to a peak of 63 which was my target but once I saw it hit that level, I'm like, "oh, it'll keep going" Wrong, it dipped again and seem to struggle at the resistance line again so I dropped my target to 42.90 which was the new top of the down trend line. I wasn't going to miss this again so I put in a limit order to bail out at 42.90. It hit my point and I got out.


Since then, DSX seems to have pulled back slightly, it could keep going higher but I don't know if it has the strength to break 43 and keep going. I mean, it's already up about 8% which doesn't mean that much but considering the environment I think that's a substantial gain and profit taking could be happening later today but I don't know.


dsx trade chart

Related Posts by Categories

Widget by Hoctro | Jack Book

No comments: