Longer term.... Reduce your stake and widen your stops... Make sure you look at 60 min and EOD charts. At the moment we're looking at 50 -60 point pullbacks so that will give you an idea of what you have to do. Can I suggest if you're going to switch now, go with 1/3rd your normal stake and 60 point stop on Dec Futures. IF your trade goes in your favour AND looks like continuing, try adding 1/3rd at a pullback /support off the 1 min charts, and then consider moving up /in your stops.Look at the current trend and try and decide what IF etc, as the price went up. Move up your stops to lock in profits at major support points. The triangle was met from Friday's triangle + 10 points. Support is at 9850, then 9832, then 9800. If the price breaks 9880, your last stop should be 9832. IF 9900 goes, move it up to 9864/9850. Remember from the 1 min charts, that 64 is a likely test point and may drop below and then back up. Check other factors if this happens- i.e RSI ratio/divergence etc.before a final close.The 100MA works well in 10 min too.Note we are at support in RSI (40) and CCI is mostly >100.
Take care, you need to develop a different mind set. Knitting is HIGHLY recommended!
Take care, you need to develop a different mind set. Knitting is HIGHLY recommended!