Trading on Friday…
January 11, 2013 2:56 PM


Most traders hate Friday trading. Specially in the after noon hours. It is incredibly slow with choppy action. Traders should be smart to quit trading on Friday. I thought I am, but today I got caught in the Mid-Morning trade around 10.45am. I saw a good ABC Bullish pattern with lots of great conditions. On the first attempt it tried to reverse and close above EL (1463.75), I bought a position around 10.50 am at 1464. My Targets are: 1467, 1470, stop set at 1462. After my trade, market rallied a bit but Friday trend was unforgiving. Now at 2.50pm, it is chopping between 200-SMA and EL (1464). Few minutes before it rallied to 1466.25 but dropped back to 1464.5. This has happened too many times. Now, I raised my stop to B/E. I should keep a note: Never trade Friday from Noon.

Wish you all great weekend.


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