Trade weekly time frame breakouts of major support and resistance levels. Daily charts are used for confirming a breakout, and hourly charts are used to monitor the trade.
Enter longs on break of resistance, enter shorts on break of support.
Define your risk, set stop loss, and move stop-loss to breakeven as soon as possible. This way your exit is your stops. Goal is to never lose money.
With this strategy you try to capture the major runs and limit losses when wrong; Turning a loosing trade into an investment is deadly (Learned the hard way from this). I like to look at S&P 500 monthly chart with a 12 sma on it for bullish/bearish bias. Price>12sma=bullish, Price<12sma=bearish.
Feel free to contact with any questions.
Aroon Osscilator; Above 0=Bullish. Below 0=Bearish. Below (-50)= Possibly oversold. Above (+50)=Possibly overbought.
RSI; Overbought/Oversold conditions.
MACD; Look for divergences, and crosses.
Examples of weekly break outs:
WARNING; This is not investment advice, use at your own risk. Educational use only!