Key level positioning strategy on daily timeframe on wheat

2017年9月13日

See chart for explanation

2017年9月13日

註釋

In other words a fair bet can be to be long into the resistance zone. But staying there too long and hope on break isn't particular good strategy. Hope must be removed from trading.

2017年9月13日

註釋

Today, on the 13th of September, being long wheat is a relatively safe strategy, we approach the resistance zone as of today.
Now we have to wait to see if it breaks. If not, I will exit before end of trading session and wait for further price action.

Look for other indicators of price to determine your bigger outlook in the asset you are trading. That is the core. Trading only on key levels will lead to dark places lol.