1553.00level the market started a slow and steady
grinding higher taking out two of the previous support
turned resistance. Aft reaching the 1578 area the
market could not keep above that area and a retest
failed for a reversal of the uptrend that started mid day.
There were many opportunities today in this two sided
market. You just need to know where the support and
resistance levels are and how to trade around them.
Certainly a major part of my strategy revolves around
the fixed support and resitance levels. But I do want
to point out that finding the dynamic areas on the chart
is equally important and only serves to at least double
the number of opportunities there on any given day.
In trading when you know that you have many opportunities
to make a trade you suddenlty realize that you don't need
to chase the market and when you miss a move it really is
no big deal. That change in psychology goes a long a way.
If you are interested in trading, what better principles can you
learn then those taught by a 30 year day trading veteran
that puts it on the line everyday. Check out the website and the course
available today.
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