XAO 0.56% 8,612.6 all ordinaries

Short Term Trading Weekend Lounge: 18-20 Jan, page-45

  1. 6,532 Posts.
    lightbulb Created with Sketch. 34
    Hi @Dazed&confused  I note the reply from @48&34 also - I'm a very short term trader and I always use a chart based system, sometimes it's as simple as selling above the last high or close or a much better preferred system of "beating" the last breakdown bar. If I've beaten one resistance level then I tend to put an offer in one pip below the next resistance.

    It's surprising how many times I get the daily high and usually don't give much away, although that has happened. Whatever you use try not to change it ---- I'm seriously guilty of this on Friday, I had a trailing  sell on JAT at at 91 to be triggered if it fell one pip, which it did. but I cancelled the sell and have held over the weekend. If I get away with this one then it's worked. If I don't then a lesson will be learnt.

    For longer term holds I do use resistance/support levels but also go back to more traditional ways such as the RSI and regression indicators in conjunction with VSA.
 
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