#dynamic support

Nike 2014 Summer LunarGlide 6 SP running shoe

Nikecelebrates the 2014 summer solstice – the longest day of the entire year – with an “SP” edition of the LunarGlide 6. Underscoring the design’s inherent yin-yang of performance and style, the silhouette appears in two opposing combinations of black and white. Employing the Swoosh’s lightest-ever Lunarlon foam, a newly developed outsole, tweaked Dynamic Support, and an engineered upper of…

I thought that I would post this now and get into the specifics in future posts.  My trading approach from start to finish is as follows:

First I view the weekly price charts and draw in significant support and resistance levels. 

I then view the daily price chart and draw in more significant support and resistant levels.  Make sure you are only drawing in levels from significant swing points as you do not want to clutter your charts with lines.

My daily price charts have both the 20 and 7 EMA's (Exponential Moving Average), which act as dynamic support and resistance which I use in conjunction with the significant horizontal levels for finding potential trade setups.

I am looking for price action setups at or near either the significant horizontal levels, or at the areas of dynamic support as indicated with the EMA's. 

I prefer to trade with the trend but if there is a nice looking price action setup at a level where price has reversed before I may look at getting in depending on my risk:reward ratio (R:R). 

My entry technique differs from trade to trade depending on how strong I find the price action signal to be.

In a nut shell that is how I trade.  Sound simple?  Well it is in all honesty.  Trading shouldn't be difficult.  Many traders over analyse their charts and just end up getting confused.  Absolutely no need for this or to have too many indicators on their charts.  I only have EMA's which I have mentioned above.  Pure price action does not lie. 

Like I said this is a very generalised approach to my trading.  I will get into the specifics in the very near future so don't panic.