I have just opened up my first futures account with a broker that offers a lot of recommendations, research, support, hand-holding, etc for new clients like myself. The two contracts I will be trading are the 10 Yr T-Notes and Corn. I have experience trading FX and investing in stocks.
I have spent a lot of time just watching the markets as opposed to demo trading and real money trading so I don't get cocky or develop bad habits. One thing I have noticed is that the ZN trends very well but does not respect support & resistance consistently. The FX markets tend to work there way between S/R and have strong breakouts with a lot of momentum when trading breakouts.
Watching the ZN I have noticed that when a major support level is broken there is a quick break and then a big pullback.
Support/Resistance setups will work all day in FX. What are some setups that you all have found to work consistently, >60% accuracy. Fibonacci levels, candlestick patterns, etc?
I'm just trying to get a feel for the way traders move the ZN markets and consistent setups that folks here have found to be profitable.
Thanks!
Ross
I have spent a lot of time just watching the markets as opposed to demo trading and real money trading so I don't get cocky or develop bad habits. One thing I have noticed is that the ZN trends very well but does not respect support & resistance consistently. The FX markets tend to work there way between S/R and have strong breakouts with a lot of momentum when trading breakouts.
Watching the ZN I have noticed that when a major support level is broken there is a quick break and then a big pullback.
Support/Resistance setups will work all day in FX. What are some setups that you all have found to work consistently, >60% accuracy. Fibonacci levels, candlestick patterns, etc?
I'm just trying to get a feel for the way traders move the ZN markets and consistent setups that folks here have found to be profitable.
Thanks!
Ross