The Power of Support

Yesterday I spoke of the importance of indentifying support lines. As part of this I made reference to look at the diagonal line of support on the DOW which was located at 10230.

A Solid Bounce

As predicted this level did in fact hold and we saw a solid gain on the DOW last night of nearly 115 points. Now without doubt, we will start hearing people cry about reversals and continuations but the reality is we can never use these lines of support as our only method of entry.

The Market is Hard

The market is a difficult place to constantly profit from and I urge you all to use a mixture of methods and signals to help time your entry and exit points. Ultimately each trader needs to find the right balance of these that works best for them.

Until next time.