The development of a 24-hour electronic Futures is a blessing. Can our trade from wherever we like whenever we like.
There is a disadvantage, however.
Many markets have lost the feeling of openness. Gone is the exodus of retailers to get through the turnstiles at the time of opening. All we are steadily growing in volume as traders straggle Office and fire up their computers.
Fortunately, there are holdouts. Take on forward cereals. The transactions of the Honourable hours; 9: 30 am to 1: 15 pm in Chicago. (True, there is an online after-market, but negotiable lightly, and closes at 7: 15 a.m.)
For a trader cereals, 9: 30 is the most exciting time of day. The market opens in a flurry of intense activity. Volume and price movement leading General during the first few minutes within the negotiating session.
It is not possible to make a perfect welfare trading only the first 30 minutes sessions the market in cereals.
Price spikes in one direction, holds a tantalizing a few seconds, and then continues onwards or chases off in the opposite direction.
The question is how to take advantage of this enthusiasm and riding into profit. There is a lack of valuable information. Reality in our chart as the first candle forms, and wonder what to do, which way to jump, where you will place stops and targets?
We can see the charts from previous days, we know that the largest trend and where the support of large were resistance levels. We know yesterday's closing price.
If the long-term trend is, you might want a pullback to level of support before placing a long trade.
If the market gaps up a few points above yesterday's close, maybe wait a price dip to "fill in the blank" before moving back.
It may rely simply on the formation of high probability of price chart patterns to provide a message. This is what I do.
Battles in support and resistance levels tend to be mercifully brief during open fast. Price is likely to move quickly to support, bounce, refine and act. When holding support, the pattern value resembles a "W" and If you fail this seems more like a lightning bolt.
With granular whatever happens, you're likely to be kept waiting long!
Click here to see some interesting graphs with a video from a formal inaugural meeting on a purchase of seeds.
David Bennett trades U.S. futures traders from his home on the Gold Coast in Australia. If providing services in coaching and mentoring for people wanting to start negotiating for themselves. Visit http://www.12oclocktrades.com/to read more forward trade articles.
Article source: http://ezinearticles.com/?expert=d_bennett
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