Monday, November 4, 2013

790.41 - New rules

  1. Switch to Daily Charts and locate a Range Market
  2. Draw Resistance/Support lines
  3. Switch to 4 Hour Charts and observe Price Actions around the zones



Entered another trade tonight, this time using a 4 Hour chart.

Nice long pin there, price seems to be rejected by the resistance line.
It is also the highest point for a while, with space on the left side.
Stop-loss at about 75% of the Candle at the tail.
Stop-profit before the next support, and it is also profit ratio of 2:1.

Hope for the best!

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