When market reached Support Level

What do you do when market reached a support level? Stupid question right? If you have a short position, cover profit; if you have no position and waiting for that support level, now is the time for entry.



Since the first drop from Sky on 13 Aug, it took this fellow weeks to reach Land and coincidentally, it's time to switch to your Sep contract.


Candlestick lesson, did you see a reversal candle on Land? yeah.... if your answer is: Broom.


On LTF(55t), A DBB formed.


The high of IB = 287.85, Long when 287.90 trade. Let's use 10 lots for this illustration.


Once we enter (for sniper strategy, 速战速决)we must plan our 80%/20% exit.


First exit came at ~2:42pm. 80% = 8 lots x 15 full tics = $1,200; 2 lots x 26 full tics = $520 [Total gain: $1,720]


Can you also see we have a second entry after we enter our DBB? Yes right, we enter again at 288.1, same thing, exit plan is still 80/20.


First exit came at ~2:38pm = 8 lots x 9 full tics = $720; 2 lots x 18 full tics = $360. [Total gain: $1,080]





Did we also have a FIB on Land? a BBC on Land?


Did you enter at "buy cluster" this morning?



It is not difficult if you have a specific strategy that you're very good at, everyday just scan through all the contracts and see who has reached Support or Resistance level. By doing this, end of the month, you'll see your account growing steadily.


Have a nice third quarter.



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