Get out of the Pig Pen

No one likes being the piggy in the middle, however I find with trading so many of us have to go through that stage before we get a good grip of the markets, hopefully this will shorten the life span that some spend there.

For me its check the wider time frame's first and then zoom in from there using the clear Support and Resistance Lines

Regards
Rob

Firstly lets look at the wider picture, where the move down to last nights low was 50% of the first range down from the July Highs and with the 4 hourly showing the low as the risk, and the stochastic's wanting to rise, its worth looking for that bounce trade or even a longer term long.



On this chart the hourly I have identified the clear supports and resistance levels and where a safe place is to go short and long without minimal risk



From there I have zoomed in on today's action to highlight how the best trades are always from the SnR and why its better to place the orders with defined risk and let the market decide