Oil traders must be using yearly pivot points. The high this year on CL futes was at the Yearly R4 Pivot and the low this year is on the Yearly S2 Pivot. Knowing where support and resistance is, has it's advantages.
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!
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