This is how my mind/system works....Freebie here...take it or shove it..
lets look at this morning....price dropped towards 800 right
could long or short at 43800..
1. assumed you shorted on break of 43800.....stop 150 above... lost trade
2. fact that it rallied and you didnt go short, you could have went long at 800
3. assume you took 1 above and got stopped... then you long on break of you stop 43950
always give yourself 150 margin from magical figures
4. rally started hits next small r/s level 44200, You could bail or hold depending on price action..always will find first support and resistance here
5. if you were happy to hold next level is major r/s. I dump at 44400 normally and go short with 150 stop again.
6.price then breaks r and rallies above your stop. reverse trade long at stop lelve 44550 to next critical r/s at 44800.
same scenario again....dumo , short @ 800 with 150 stop. If stop is taken, reverse long at 45950 to next level of 45200
and again and again same trades..till today 45400...short again here with 150 stop....and now hold till 44800 at least
Day trader system....you will notice most of my trades done at 800,400 and 200 levels
Dont use it straightaway, practice for a month of so to see if it suits your trading style
the key play today was to short at....yes you guessed it 45400...haha V someone call the mail and guardian quickly ....or previous high of last week +-45500...
Typical bear market play ...easy peasy....As long as bulls cannot take out that high , bears in full control