Friday, December 5, 2014

Crudeoil positional analysis 05.12.14 Update II

Day Trading Rules:

1) Only enter trades when price is at a support (demand) or resistance (supply) level, no matter what time of day or night.
1) Two types of entries: Breakouts and first pullbacks (see below).
2) Each day, identify one demand and supply level in each market, using a larger intra-day time frame. Always know where the market is in the larger picture with regard to supply and demand.

3) Only trade opportunities that offer at least a 3:1 profit zone to the first target.
4) Pre-plan and pre-set: Entry, Stop, Target/s.
5) Don’t get fooled by: News, Lagging indicators, Subjective information. Remember, any and all influences on price are reflected in prices. Price is all we need.