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Using This Information Properly

Support may represent favorable risk/reward places to buy if the trend is up. If prices trade below support, then have a close back above it, it is considered a bullish "trigger," and oftentimes represents a good buy signal. Resistance may represent favorable risk/reward places to go short if the trend is down. If prices trade above it, then have a weekly close back below, it is considered a bearish "trigger, and oftentimes a good sell signal.

My comments and trade recommendations are primarily for traders of commodity and futures contracts. They are provided mainly with "speculators" in mind. By its very nature, "speculation" means "willing to take risk of loss." Speculators must be willing to accept the fact that they are going to have several losses, many more than "investors." That is why they are "speculators."

Speculators are typically right about 50 percent of the time, plus or minus 10 percent. The way "speculators" become profitable is not so much by high percentage of winning trades, but by controlling amount of loss on any given trade, so the average trade on winners is considerably more than the average trade on losing trades.

My comments can be of value to both speculators and investors. My trade recommendations will be of potential value only to speculators. Those who take these trades need to be willing to adjust stop-losses, and even the trade itself, as the week unfolds, and dependent on technical factors that will arise with each day's trading. There is no guarantee as to future accuracy or profitability. Each trader and reader trades at his or her own risk, and neither the author nor publisher assume any responsibility whatsoever for anyone's financial or commodity markets decisions. Futures or options trading is considered high risk.

By Raymond Merriman

 

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