Trading Volatile Markets--Preservation of Capital
Yesterday, Techonomic Trading Strategies posted a statement that in volatile markets to cut you position size down and to tighten your stop loss. Here is a perfect example. Watching a 15-minute chart this moring we saw an opportunity for a good scalp as divergences were showing in the 5,15- and 30-minute charts, The upper slope channel line was acting as resistance, validating it 4 times with divergences and less volume. News broke and we were stopped out in a blink of an eye. We view this as a good strategy in volatile markets. Note* look at price action now as we live to trade another day with no serious drawdown. Have a great weekend, we are off to Golf.
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