Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Sellers have price traveling down a bearish channel with a touch and test of support at the bottom trendline around 1180.50. Buyers came into drive price up to test resistance at the upper trendline. There is now indecision with some testing…
Day trading course
Looking at the structure of this Bull flag, or an ABCD Butterfly, or an inside W on a bearish channel. We can see that if the area to 1180 is supported for an extreme low, then a possibility this next week of a rally to 1320 and then a move onto 1410. This will be putting the market into a further ABCD pattern to the upside and a continuation to the previous swing highs on a monthly chart. This is a very long term projection but in the near term the bullish flag with a sell side head fake could be the signal we are waiting for to rally into this fourth quarter for bonuses!
Trading the S&P500 emini futures contract in the S&P500 day trading course live room. In the last couple of days there was a rally up to 1275.50 with price testing and holding in that resistance zone. A subsequent move down to test support at bottom trendline, a retraction to present price levels with another pennant forming…
Sign up and a trial link will be sent to your email.
