Support and Resistance Trading Forum

Re: Charting
By:Chartsky
Date: 12/6/2010, 6:33 pm
In Response To: Charting (Travis)

Hi Travis,

When I'm day trading I don't go back very far, usually taking my $100-$200 bites out in-between more major support & resistance levels.

I do take those (S&R levels) into account to see if there's room enough to get my Profit Target.

And I also give more weight to a significant support or resistance level that hasn't really been tested yet.

When Day Trading, I look at the chart in front of me without worrying much about higher time frames. But I'm also in-and-out quickly . . . sometimes scalping Crude Oil for $100 in 30-seconds. If that's the trade I'm taking.

When Swing Trading, I'm already on a higher time frame but will often use support or resistance to go to break-even or tighten-up a trailing stop.

Chartsky

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