Time Frame: 15Min Charts or maybe more
Indicators: None - have actually to get nude on this one
Okay guys listed here is a intermediate to strategy that is advanced. But once mastered. It may be very powerful. Its essentially support and resistance nonetheless it helps to just take the guess work-out of choosing the support that is correct resistance degree that will hold within the future. Ok sufficient yapping, lets reach the strategy currently.
THE MILKING PROCESS
You have to be aware of swing highs and swing lows. Therefore that which we have to now look out for is swings. Once the market is moving, we keep an optical eye out for 2 swings then the retracement. Confused yet? Okay just decide to try and see the remainder of this out first then we'll place down examples slowly 1 by 1 to exhibit the things I'm saying.
In a uptrend:
- You search for a swing high, label it, swing # 1.
- Next, you watch for another swing to happen more than swing #1.
- Label this brand new high, swing #2.
- Place your purchase entry during the high of swing#1.
- watch for fill.
NOTE: SWINGS MUST CERTANLY BE EVIDENT. TRY OPERATING A UPSIDE DOWN "U" SHAPE.
In a downtrend:
- you appear for a swing low, label it, swing #1
- Next, you wait for another move to occur LOWER than swing #1.
- Label this new low, swing #2.
- Place your sell entry at the lower of swing #1.
- Wait for fill.
NOTE: SWINGS NEEDS TO BE CLEAR. TRY OPERATING A "U" SHAPE.
Okay now for the artistic examples (don’t worry, I'll upload the movie that is tutorial too)
IDENTIFY THE SWINGS
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