Day trading course looks at technical price action on the S&P500 emini futures to see what could end the trading day in a little Buyer’s Remorse.
After a quick reversal and 2 days of buying with high volatility on the buyer side, the S&P500 emini futures bounced off of resistance at 1330. The overnight sessions have seen most of the move as the EU got together to agree on agreeing. First area of resistance at 1322.75 . If the market closes below here we could see a hammer finishing this move up and a test to 1330 giving 7 points of price failure where the sellers took the direction off of buyers.The previous swing highs at 1335 look to be the swing high target. If the market closes at the 1322.75 resistance or above look for a test of the swing high an maybe a continuation to 1352 and an extreme high target of 1363-65. This would be about two weeks ahead of the previous price projection pattern and complete the lower high in the long term off of the double top.
If this closes below the 1314.50 and we have a sell off into the close, looking for support at the 1304.50 area on the approach to the psychological 1300. This could be where the retail pulls out and actually starts the move to 1180 (longer term target). I would be looking for more “doom” out of the EU with a black swan event like Germany deciding they have had enough and pulling out of the Euro, or a collapse of the Russian Ruble as oil & commodities prices tumble. There are many doom situations coming out of Europe presently with Spain’s banking, insurance and credit structure coming into focus. It is a little bit of “eye off the ball” as Greece, Italy and some of the smaller countries are requesting more capital inflow to create liquidity. These short periods of political agreement on agreeing will cause the Euro to rally, which we might see the US indexes follow as the risk off trade looses some volume and bond prices fall.
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.
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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: 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, be sure you understand the risks involved in day trading.