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10-25-2006, 08:11 AM
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Oct. 25th, 2006 YM Analysis
Quick premarket analysis. Markets trading in balance... will need to watch out for choppy action. Value area is fairly narrow today but we have the previous days high right above VAH and the previous days low right below VAL.
Overnight session found resistance at the weekly pivot at 12190. I sense a tough market to trade today... may play breakouts of 12200 or price rejection above value and back down towards 12150. One method I use is to give my charts a quick glance and look for trading opportunities. If I have to search hard for one this indicates that I should stand aside. I might do 1-2 trades today but overall.. not finding the right levels I feel confident at. Key levels: 12190, 12170, 12147, 12125
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James Lee TradersLaboratory.com ----------------------------- Empowering traders with knowledge. Please support TL by visiting our sponsors. Thanks! 
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