Wednesday, 27 January 2010

Gap opening DP play on the YM


OK, now we know that the YM was at DP support on the 15min Chart near the open, we could have used the Advanced technique that I have talked about before of looking for a reversal at DP support / resistance, just after the open. Especially when this “falls in line” with larger degree support / resistance. Yesterday was a perfect example of this......

As you can see, this had you long from the very low of the day !

The YM then rallied nicely into the opposing DP where +4.3R Profit (ignoring slippage and commission) was available.

Thanks, Steve