DRYS bounced off the weekly S1 pivot(blue circle) and now is looking for the weekly R1 pivot(blue arrow) @7.43. Market Markers and Professional Traders use pivot points!
Trading is a visual game. Buy support and sell resistance. In my 17 years as a trader, I've learned where support and resistance using a combination of MPG. I take Pivot Point analysis to a another level. Join my new Pivotalpivots.com Alert service. Follow me on Twitter @mpgtrader. Or click on the MPG Trading link below, and join myself and other MPG Traders live(during market hours).
1) Protect your capital 2) see rule #1 3) don't trade what you think, just trade what the charts say 4) use stops on all orders 5) never let a winner turn into a loser 6) never buy R2 7) never short S2 8) 3 losing trades in a row= strike 3.......shut down the computer for the day. Something is wrong in my head!