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Futures news on May 14: 1. The trading volume of WTI crude oil futures was 939,755 lots, a decrease of 148,917 lots from the previous trading day. The open interest was 1,950,127 lots, a decrease of 19,565 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 188,785 lots, a decrease of 19,077 lots from the previous trading day. The open interest was 197,926 lots, an increase of 2,405 lots from the previous trading day. 3. The trading volume of natural gas futures was 423,419 lots, a decrease of 80,059 lots from the previous trading day. The open interest was 1,530,807 lots, an increase of 7,222 lots from the previous trading day.Jefferies: Downgraded Rivian (RIVN.O) rating from buy to hold.Futures News on May 14, Economies.com analysts latest views today: In recent trading, spot gold prices have declined and failed to break through the key resistance level of $3,260. From the short-term trend, the gold market is currently dominated by a short correction. The previous major bullish trend line was broken, further exacerbating the downward pressure on the market. As the price of gold is currently below its 50-day moving average (EMA50), the negative pressure on the technical side has also suppressed the price rebound to a certain extent. At the same time, the negative signals on the relative strength index (RSI) further strengthened the bearish sentiment in the market. Previously, the price of gold successfully alleviated the oversold condition in previous transactions, but the current trend seems to open up space for further declines.Futures News on May 14, Economies.com analysts latest views today: In recent trading, WTI crude oil futures have fallen to a certain extent. This adjustment is mainly to consolidate the gains accumulated from the previous rise, while trying to accumulate positive momentum through a correction to create conditions for subsequent price recovery and further rise. In addition, crude oil prices are also trying to ease the obvious overbought conditions shown on the relative strength index (RSI). The appearance of the dead cross shows that the market seems to be releasing signals of adjustment. However, from the short-term trend, the crude oil market is still dominated by a bull correction. Prices are trading along the rising trend line, showing a certain degree of technical resilience. As crude oil prices are still above their 50-day moving average (EMA50), dynamic support continues, which provides a strong technical basis for further strengthening of crude oil prices.Futures May 14, Economies.com analysts latest view today: Brent crude oil prices have fallen in recent intraday trading. However, in the short term, bullish corrections still dominate, and prices are trading near the trend line. As Brent crude oil prices continue to trade above the 50-day moving average (EMA50), the bullish pattern may continue. However, as the current price is far from EMA50, it may cause the price to give up some of the previous gains and ease the more obvious overbought state in the relative strength index (RSI), especially the RSI begins to show negative overlap signals. However, Brent crude oil prices are still accumulating positive momentum, and it is expected to use this momentum to rebound and rise again.

Minute chart trading method for day trading

Alyssa Hertig

Oct 25, 2021 13:27


Minute chart trading method for day trading - Support & Resistance

1. Identify Support & Resistance  

The line connects with the two price reversal points called support line or resistance line.  When the reversal turns to the downtrend becomes the resistance line. When the reversal turns to the uptrend becomes the support line,

as shown in the figure:

外汇1.jpg 

 

2. Make Positions and Set Stop Loss

Make short positions near the Resistance, and set stop loss above it. Then close out positions before the price reaches the support level.

外汇2.jpg 

 

Make long positions near the Support, and set stop loss below it. Then close out positions before the price reaches the resistance level.

外汇3.jpg 

 

In terms of price action analysis, your profit target should not be above strong resistance or strong below support.

This is a very simplified method, Support & Resistance can be found in all sorts of market environments.


And this method is very effective, even if the direction of our position is wrong, we can just stop loss and close out. The loss is in our control.


One minute price chart with Support & Resistance, trading easily and controllable. It is the first choice of foreign exchange trading strategy and entry-level trading method for novices.


Without long-term focus on the price trend and large amount of data and news, trading become a much easier thing for us!