The LSS 3-Day Cycle Method is designed to identify Support and Resistance. This market strategy is particularly useful in day trading because it identifies zones where the market can be bought or sold with decreased risk. Mr. Angell suggests that, "You don't have to be a long-time market analyst to notice that a lower opening is often followed by higher prices, nor that a higher opening is likewise often followed by declining prices." Going on to explain the three day cycle he explains that day one is, "A buy day, or "L" day, when the market would be taken lower on the open, providing the opportunity to purchase contracts at favourable prices."
Day two is described as, "A sell day, or "S" day, when the market would trade at or near the previous day's high, providing the opportunity to sell at a profit the prior day's long positions.
Finally, the concluding day of the cycle is, "A short sell, or "SS" day, when the market would open at an extreme, providing a short selling opportunity for contracts that could be "covered" or purchased lower at the end of the day" ... download the eBook to read more
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