Rules
dont just use the lines on there own add some confluence with BB spikes and RSI extremes and PP are FAB
be aware the time you are trading , and of any pending high impact news events
the open - at the open price will often surge up or down ? if it a rising market and the candles are strongly bullish then dont get into early give the bulls there day , look at the bigger time frames to see where they might be headed (previous support and resistance ) and wait for that entry reversal
as price surges thro a level it increase the likelihood of a better reversal
EXAMPLE
if the dax pre open is around the 13165-175 area and it goes down a little before zooming up , let the bulls have there day it will probably not stop at 13180 and it may hardly holt at the 00( i love this area tho )13200
BUT get very excited about 13220 the bulls have now pushed it 60-80 pips COME IN THE BEARS
chart time watching the action ....experience..... will keep you safe
dont just use the lines on there own add some confluence with BB spikes and RSI extremes and PP are FAB
be aware the time you are trading , and of any pending high impact news events
the open - at the open price will often surge up or down ? if it a rising market and the candles are strongly bullish then dont get into early give the bulls there day , look at the bigger time frames to see where they might be headed (previous support and resistance ) and wait for that entry reversal
as price surges thro a level it increase the likelihood of a better reversal
EXAMPLE
if the dax pre open is around the 13165-175 area and it goes down a little before zooming up , let the bulls have there day it will probably not stop at 13180 and it may hardly holt at the 00( i love this area tho )13200
BUT get very excited about 13220 the bulls have now pushed it 60-80 pips COME IN THE BEARS
chart time watching the action ....experience..... will keep you safe