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May 2015 weekly trading plan – SP500 Emini Futures

weekly trading plan May 2015


May 5, 2015 Corona, Ca Weekly trading plan S&P500 emini futures Continuation Pattern

weekly trading plan May 2015Continuation pattern in the S&P500 emini futures. We can see a retracement pattern in the two green zones.  This has become a continuation pattern on the longer term time frames.

The “W Pattern” is still playing out mentioned in the last trading plan post. We are seeing the 5 step pattern with a 50% retracement to support before the  next move in this continuation pattern.

The last two days of this daily chart showed a spinning top like pattern where the buyers brought price higher then sellers rejected it to close with almost a doji like pattern, Sellers moved in today May 5, 2015 and hit support at 2090 with buyers stepping in at 11:30 AM

We are still above the 200MA and in a bull market Trend. The 50MA is also holding support and we shall see during the week if this level around 2083 is tested again. 2060 is the next major support for the price action to chop back and forth.  If the market breaks below this support, we could see a further move to the 200MA at 2010 where we still have an open Gap.  These light blue boxes are open gaps.

Weekly Trading Plan Considerations – Take note of this weeks news and probably lower volume because of the Japanese Holiday Golden Week.

Sellers in control – watch for a move to support at 2083 then a move to next levels of support 2060 and if there is major sell pressure on light volume, then test to 2010.

Buyers in control – bounce off of support and get price to new highs.  Probably Friday as a recovery from the unemployment news on Thursday.

Always manage your risk first, and make a written trading plan.




Trading Plan – W pattern 2015

trading plan - W pattern


April 13, 2015 Corona, CA Trading Plan the W Pattern for April 2015 on the S&P500 emini futures contract.

trading plan - W patternTrading plan for the W Pattern – we are presently in a congested trading zone from 2031 to 2100 as shown in the green box on the chart.

This has given the sellers two pushes from the double top and buyers following up for a third attempt on the resistance at the top of the consolidated zone.  The 50 MA is acting as a Point of control between the buyers and sellers.

If you notice the move from point 3 to point 4, you can see the move to point 5 is about a 50% retrace of the buyers move.  Then support follows.

The W pattern holds the supporting trend line and sets the base for what could be the next move up.

The projected equidistant price move is 2140 if buyers stay in control.

Always manage your risk first.  Although this pattern is a continuation pattern to new highs, the market has many outliers that could reverse this especially as we are headed into earnings.

Failure of the W pattern – we could see sellers move in.

If Sellers move in, we could see price close the open Gap at 2016 and then a move to the 200MA where if we stay above it the bull market is still held in tact.


Gold trading plan – Point of control for trading.


Corona, CA – Joel Wissing on Gold trading plan – Point of control for trading the gold market 2nd quarter 2015.

Gold trading plan, gold market, gold pricingDo you have a gold trading plan? Many gold traders are reactive to the market because they have no written trading plan.

Trading is pretty simple, the market goes up or down, it is controlled by buyers or sellers.  A gold trading plan looking at different time frames, support and resistance levels and trading range can make your trading more responsive to what is happening in  the market.

Gold Trading, we are seeing a bounce off of the 50MA which will act as a ceiling. this was at $1215.  Once gold broke through the $1200 mark, we saw market makers selling into the bid.  This gave us price failure over $1200 and the price of gold then turned and moved down to $1177 support range.  The retracement down might not be finished and the Point of Control (Decision Point) on this move is $1175 with a range to $1190.  This is a 15 point range, where we can see quick moves intra-day. This will be difficult to break through.

The Range the Price has been consolidating in is from $1140 to $1220, until we see any real commitment by buyers or sellers in volume there will be little chance for a change of direction in this bearish channel.  The 200MA moving average is close to $1240 and can be used as an upside resistance which would give us a right hand shoulder for another classical trading pattern the Head and Shoulders with the head being the swing high at $1300.  If the sellers should move in the Equidistant move is projected to $1044-$1050 if sellers take it through the previous swing lows of $1140.  A powerful swing down. If we do test the 200MA then I would look for a sell off to $1080.

As mentioned before when making a Gold trading plan, the importance of understanding the support and resistance for moves controlled by both the buyers and the sellers is a way to plan for any direction.

The zone from $1290 to $1350 will be the fight zone between buyers and sellers, if we see gold prices move into this area, I am looking for it to stay consolidated until there is an outlier to break it out of the range.

Gold prices in the future reflected in dollar value, will be more relative to value of the dollar in international trade, and when trade moves away from the dollar, we shall see price increase. I expect to see it come into play in September 2015 when China, Russia and Saudi Arabia trade directly and move out of dollar oil trades.  The velocity of this change will have the greatest net effect on the dollar gold values.  Joel Wissing from Outliers 2015


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