Commodities Trading Blog: Trading Plan: Which setups can be skipped

Saturday, November 7, 2009

Trading Plan: Which setups can be skipped

Setups that occure in the trading range between the day before yesterdays high and yesterdays high can be skipped, as most traders first want to see double tops before the real downtrend can start. Also notice setup that happen around 5 to 8 am are usually not good as they have no room to unfold so the volatility due to news event and market open hour stops them out.

DP setups at all time highs
Short setups on Bases after Rallies

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