Selling the strong high failure off a retest of the earlier channel allowed us to pick up a gorgeous 7
point move lower this morning!
http://www.sidewaysmarkets.com/2016/02/price-action-trading-high-failure-on-e
.html
In today's video we see the
E-Mini S&P; 500 Futures attempting to break down but with lack of proof until the
HUGE bear candle joined the party.
This gave us an opportunity to sell the move down for $350 on the trade with only 1 contract!
Watch more videos on
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Price Action Trading is all about knowing the day type and knowing how to trade it at the right place at the right time.
Levels of
Support and
Resistance CONSTANTLY come in to play -- even after they are broken. It is important to keep an eye on those levels for potential opportunity just like we had today!
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TELL YOU:
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U.S. Government Required
Disclaimer -
Commodity Futures Trading Commission Futures and
Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE
RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL
PERFORMANCE RECORD, SIMULATED RESULTS
DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE
IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE
FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE
PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED WITHIN THIS
SITE, SUPPORT AND TEXTS. OUR COURSE(S), PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING
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- published: 25 Feb 2016
- views: 783