Be Prepared

Good Morning Dynamic Traders

Hope you all had a great weekend.

Today I will run through being prepared for what price might do next. I have already covered how we should prepare ourselves if price increases. However, my last update on Friday I was discussing the possibility of price falling. So if price does decide to fall what should we do?

In the day chart below I have marked out 2 entry positions. The first entry is for a long position (which I have already discussed) and the second is for a shorting position.

The shorting entry I am going to run through is a more conservative approach which relies on a BOB below the pivot point at 88.00. Once we have a BOB we will then need to use the ESLT to get our entry.













We have now prepared ourselves for both scenarios, so it is now just a case of waiting to see what price decides to do.

Happy Trading

Richard Monnery