* 1st support: 1960-1965. 2nd support: 1945-1950.
* 1st resistance: 1980. 2nd resistance: 2005.
* Long-term bull & bear boundary: 1910.
Rules to follow in daily trading:
* Bull & bear boundary is critical for trading. We suggest $2-$5 beyond for SL. If the boundary postion breaks, most probably the trendance will be reversed.
* 1st or 2nd supporting position is for buying entry or TP (partial or total) of selling orders.
* 1st or 2nd resistance position is for selling entry or TP (partial or total) of buying orders .
* $1 difference is acceptable. E.g. supporting 1950, means 1949-1951.9 is the buying entry area.
* $5 beyond supporting or resistance position is our max SL.
* In daily short-term trading, we suggest $7-$9 profit to close at least half of oders and leave only 1/3 or close all the orders when $14 profit achieved.
* In long-term trading which has been confirmed by pattern, we suggest keeping at least half amount of orders when 1st resistance position reached and move SL accordingly to the entry position.
* In long-term trading, retracement of $30-$50 is normal, dosen't mean the revesal of trend. That's why we still keep our buying ordrs entered at 1810.6 and closed most orders at 2000.
* 1st resistance: 1980. 2nd resistance: 2005.
* Long-term bull & bear boundary: 1910.
Rules to follow in daily trading:
* Bull & bear boundary is critical for trading. We suggest $2-$5 beyond for SL. If the boundary postion breaks, most probably the trendance will be reversed.
* 1st or 2nd supporting position is for buying entry or TP (partial or total) of selling orders.
* 1st or 2nd resistance position is for selling entry or TP (partial or total) of buying orders .
* $1 difference is acceptable. E.g. supporting 1950, means 1949-1951.9 is the buying entry area.
* $5 beyond supporting or resistance position is our max SL.
* In daily short-term trading, we suggest $7-$9 profit to close at least half of oders and leave only 1/3 or close all the orders when $14 profit achieved.
* In long-term trading which has been confirmed by pattern, we suggest keeping at least half amount of orders when 1st resistance position reached and move SL accordingly to the entry position.
* In long-term trading, retracement of $30-$50 is normal, dosen't mean the revesal of trend. That's why we still keep our buying ordrs entered at 1810.6 and closed most orders at 2000.