high frequency trading
Day trading course – S&P 500 tests key support in after hours trading.
The S&P 500 saw a 25 point run down yesterday as traders spent the last few hours of the day selling the S&P all the way down to the 1230.00 area by the closing bell. Overnight saw prices move and retrace to the 1241.00 area before continuing to touch into the key 1222.00 area of support. Looking at the daily chart we can see that this area is key area of support to the market right now.
Day Trading Course focuses on key support and resistnace levels and teaches how to see the direction in the market to make profits
After breaking the 1240.00 area yesterday, we have the 1220-22 area where we have tested at least 5 times now in the last month of trading. Should today’s trading break the support in at 1220.00 then we will target 1208.75, 1200.00, 1196.50 and 1180.00 as the next area’s to watch for. Should the 1220 support hold, some retracement targets will be 1236.00, 1240.00, 1248.25, with 1252.25 as a high.
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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 trading.
Looking at a 240 min chart we can see price approaching the top of our bearish channel we have been trading. With a retracement off of resistance here to the 1315 area of support we could put in a right side to a possible inverted head and shoulders. Then a move to the upside to resistance, and if the buyers are able to carry it through to break the bearish channel we could see price move to test the 1345 area of resistance again. The move into the 1315 area will line up nicely with support and the 61.8% retracement of the previous move off of the last swing low. This could take a day or two to pan out, but the set up is looking nice. Trade what you see, I’ll see you at the starting line!
After traing a consoidated day yesterday, price did move up to continue to test back to the upside. Volume came in at 1.67M contracts for the day and closed trading at 1342.25. Today’s trading could see some resistance int the 1350-1355 area, as price has seemingly started to try and float some more. We could see a consolidated week, as we have been trading in a 19 point channel since the end of last week. A couple area’s of support through this channel are in at 1342.25, 1338.50, and 1335.00. If we move through the top of this channel then 1354.75, 1357.50, and 1360.00 are area’s to target on the way up. Trade what you see…