HI I have to remove my post with targets explanation.
One trader make me realize I did not change “expiry date” for my futures.
My direction still “Long for both, S&P500 and Gold”
but, because my work was done on old futures contract expiry date…they are not as precises as us to be.
Day Trading S&P 500. Using ES E-mini Futures Contracts chart.
We are in consolidation, looking for Direction. depending witch direction we go, we should rich next 3 targets in following days.
Thank you for riding and your comments.
Learn how to trade – futures trading. Market is retraced to major resistance.
Day trading course looking at the price action on the S&P500 emini futures contract. The Point of control for tomorrow’s session will be 1339.75 as we watch to see if sellers enter the overnight session in futures to push a gap down in equities on the open. Most traders were looking to test the 1351-54 area today but this is the congestion zone that we experienced before the break down in the first few days of May. The buyers held for a few days at this level before the sellers could take it from them.
Price in this area from 1341-47 is where we can see this stall. Above 1354 and buyers can carry through on this move up. As always in this economic environment watch for the low volume buying. Shows weak support for the move and can fall 10x faster. Also note the timing mentioned in previous posts for the timing of this move. May was the start of the sell off with a retracement of the move in June with a double top or lower high leading to a lower low on longer time frames.
We can see support if this does begin to sell at 1339.25 at 1323-25, then next major support at 1312.25 and then the the previous consolidation zone at 1298-1304.
Learn how to trade – Futures Trading with other traders that all speak the same technical language. We will have a three day trading course in Calgary, Alberta June 23-205. This will followed up by work in the live trading room so you don’t have to trade alone.
Trade what you see and never listen to the so called experts. If you can’t see the direction of the market and don’t understand how to use a stop, then don’t trade. Never take stock tips, and if it is on the TV as a hot pick, it is too late.
Day trading course focusing on the S&P500 emini futures support and resistance and efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in trading.
Day trading course looks at price and direction, the support and resistance and the direction of the market.
Day trading course will be in your area soon, join us for Day trading education.
The S&P500 emini futures is one of the largest professionally day traded markets in the world. Our Day trading course focuses on training you on how to see price and direction in the marketplace and how to leverage your strengths to take a profit out of the market.
Disclaimer: learn how to trade – futures trading day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, learn how to day trade futures- be sure you understand the risks involved in day trading.