The Es's are not offering us a very good short yet. It appears to be holding onto overnight gains and consolidating for another stab upward. Any shorts should have a tight stop to hold onto gains.
Technical Analysis for the Serious Market Technican!
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Wednesday, April 20, 2011
Navigating a trade part 4 (Final)
Your hard work of identifying the upward resistance pays off. You either book profits or increment a tighter stop loss. God speed and good luck!Navigating a trade part 3
Still lifting with internals confirming. Immediate action is to protect profits and search for upward resistance. Then move along to projecting the first 3 points using a Fib tool.Navigating a trade part 2
Internals continue to flatten and lift. After immediate intrance into a trade the stop is set and incremented as we move up. Both market action and internals agree!
ES Futures Update
A low risk short may be upon us the morning. Waiting for confirmation of a secondary lower high will be key. Looks like the B wave of C is finishing up. It could also be construed as wave 2 of C of a larger degree flat pattern. God speed to all!
Additional date has us targetting the 1331.75 area for a possible opportunity. By all means only a secondary lower high would confirm the entry!
Monday, April 18, 2011
ES Update
The levels in yesterdays report worked perfectly today. It alerted us to weakness and a possible drop when the 1309.25 level was breached. With the overwhelming evidence piling in its evident that we are either bound up in possible triangle with the two ensuing abc structures and the next one will either be another abc thus validating the triangle or could morph into a flat attacking the 3/16 low in short order! The trade should be to identify highs to sell into over the next few trading sessions.
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