technical trading
Day Trading Course, How do you ride a rollorcoaster?
Anyone trading in the market these days will have noticed one thing if nothing else. The markets this last little have been pretty much like that of a roller coaster amusement ride. For some people (Day Traders in particular) a lot of fun with large intra-day swings that can turn HUGE profits in short periods should you be on the right side, while others are scared to death (the average investor) fearing that any day now with these crazy moves they will watch yet another chunk of their portfolio disappear into the abyss. The question is… “Which are you?” Are you getting the results that you want? or are you running scared as every time it seems as though it could pick up and move in your favour, you seem to get get an unexpected turn against you? If you are the second there is good news. You can do something about it, and that is what I encourage you to do. Instead of watching from the sidelines or even worse watching your money disappear into the previously mentioned abyss.
That being said, let’s take a look at a chart of the S&P 500 to get an idea of what “could” happen over the next few days and possibly weeks. Looking ar the daily chart we can see that since hitting the 1370 high in the last couple days of July, and the beginning of August when we hit the first low in the 1080.00 area we have been riding the previously roller coaster. These ranges have traded sideways into a tightening range for 5 months now, forming a painfully large and long running pennant formation. As we continue to see lower highs followed by higher lows our range continues to tighten as we wait for the unavoidable choice in direction to follow.
Day Trading Course
What direction you ask? That is for an upcoming post, right now we will focus on getting you through the next few days and possibly weeks. On the chart we can see that as of today’s close we are touching into a very important area of support. That area is pretty much the point of control for this range we have been trading the last few months, the 1200-1210 area. Should the support hold here, we will watch for the move back to 1220, and then 1250. Should this 1200 area not provide the support needed to hold this market up, the next stop will be the 1185.00 area. This will test again to find out if this 5 month trend will continue to hold or break out into direction. Should support hold, this pennant could continue to trade into the new year as things continue to drag on. This could take anywhere from the next couple days until the end of next week to play out, then based on the move we get there we can then look at targeting the next. Until then, Trade what you see. I’ll see you at the starting line!
Day trading course will be in your area soon, join us for Day trading education.
Day trading course will be in your area soon, join us for Day trading education.
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.
Day Trading Course, After hours trading retraces into open
The S&P 500 has traded some 30 points to the upside through the overnight session. Trading from the 1152 area all the way to test the 1185.
Looking at the daily chart with Fibonacci retracement lines on it we can see that this previous move has now retraced almost perfectly to 61.8% of the previous 210 point move up we witnessed through most of October. Retracement targets for this current move include 1170.00, 1189.00, 1200.00 and 1210.00.
Day Trading Course teaches methods for targeting, riskmanagement and finding precise low-risk entries.
Should this move change back to another move down, targets will include 1170.00, 1160.00, 1152.00 and 1146.00.
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.
Day Trading Course – S&P 500 moves to test 1180, Are the Bears Done Yet?
After yesterday’s move down and test on the 1180 area of support, most are begging to wonder if this will be it? or if this is only the beginning. Well perhaps a bit if both is approprate. However for now I am only interested in what is to come for today and maybe the rest of the week.
Day Trading Course teaches how to read the market and understand key concepts in risk management, entries, and targeting efficiently.
As you can see in the chart below the move to the 1180 support has touched also to the Fibonacci 50% retracement line, a great place for a turn around. With price having moved back to the 1290′s and now testing the 1285 area going into the open, it could be anybody’s day today including slow and consolidated as trader may be indecision after this 100 point move down. If price moves up and off of the 1185 area on the 4 hr chart this will give us a higher low, which in turn could give us a higher high to look for. Key area’s we will watch for should we get the turn and signal will be the 1296.00 and the 1206.50 area’s. From there the longer term upside targets will be the 1215.00 and 1220.00 area’s.
Day Trading Course teaches methods for successful trading in even the most volatile markets. Come and join us for our next live event in a city near you.
If we see price break through lows once again, then on we could go to test into the 1260, and even the 1240 area over coming days. As more comes from Eurozone news as well as the US, this market has certainly seen a lot of emotion in recent months. One thing is certain about this market…. The roller coaster ride is not over yet.
