Fiscal Cliff creates opportunities for Day traders that understand price action.

Hello Day traders and Happy Holidays for all of you!

This week, I made 4 targets for both side cause of Holidays.

 I like the big drop till ~1424.00 on Friday.This way it shows me that the Market respects the supporting trend line.

Few thing to take in consideration for next week: “Blue Trend Line” , My “Green Up Trend”, and “Fiscal Cliff”

“Blue Trend Line” : As you can see,1429.00 was a resistance and support for long time. And because we close above 1429 ,for next week, it will act as a Support for buyers.

 “Green UP Trend” : As you can see, is a good thing that we had this sell-off on Friday, this way, we have space to go Long and go higher than before. Market looking to go back in my “Up Consolidation Zone”

“Fiscal Cliff”: Day traders can use the news to our benefit because of sentiment, but we don’t care which way it goes if we can see it.

If US politician can fix this discussion in a positive way, we go “Long” if not “Short”. Personally,(is only my opinion)….I would be very surprised if they don’t agree on something before the dead line.

Direction: I’m looking for “Long“entries only…as usually I will take if I have my confirmation.

PS: Watch my “Consolidation Zone”...look like market looking to go there.

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