Hi Everybody,
The CAC40 gave us an excellent training example yesterday, so I would like to spend some time look at it because it shows exactly the procedure to follow to uncover great trades.
First we start with the larger degree 15min Chart, and look fir areas of support or resistance, this usually means using the DP. Yesterday we would have seen that there was strong DP resistance in the 3110 to 3115 area. So this is the area we should be alert for any shorter term automatic DP sells as the CAC started to rally yesterday morning.
Over to the 3min Chart now..................
Thanks, Steve
The CAC40 gave us an excellent training example yesterday, so I would like to spend some time look at it because it shows exactly the procedure to follow to uncover great trades.
First we start with the larger degree 15min Chart, and look fir areas of support or resistance, this usually means using the DP. Yesterday we would have seen that there was strong DP resistance in the 3110 to 3115 area. So this is the area we should be alert for any shorter term automatic DP sells as the CAC started to rally yesterday morning.
Over to the 3min Chart now..................
Thanks, Steve
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