Every trade we take in the live trading room starts with a level. Support is a price where buyers have stepped in before; resistance is a price where sellers have. They work because the market remembers: traders who bought at support want to buy there again, traders who sold at resistance want to sell there…
End of the month trading plan for July 2015 into 1st trading week of August. The Weekly chart on the S&P500 emini futures shows an Engulfing bearish candlestick on the last week. This is where the sellers have a larger real price the engulfs the previous weeks price action. Looking for this to retrace to…
Trading plan in to August 2015 – Mind the gap The US markets had a partial correction with a few break away gaps which can become longer term targets for the next move down by sellers. The first gap we can see filled today bringing the market down to within a few points of the…
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