Trading Report February 17, 2011

Initially I shorted at 5470 levels because I though the market might dwindle. However due to immense buying pressure, the contract began to surge. Covered my short at 5480 levels, while entering long at that position. Target lay in between 5500 and 5510 (which was achieved in no time – despite huge selling pressure).

I may short at 5540 – 5550 levels, it the contract touches and recedes.

Update (17:00) – I realized that I had exited the trade at a very early level. I could have entered long at 5520 levels with 5550 as target – but could not do so as I was plain nervous .. 😦

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