Look to buy the 1st retrace to the downside on a 30 minute chart time frame. This is a short to medium term trade. Look for the buy to develop around but above 1347.50. Last blog i don't think i was specific enough on directions for the trade. The trade recommended came within 2 ticks of being filled then the ES sold off around 5 points, this occurred during the overnight and if you were not filled on that initial retrace move the trade would be canceled. It is the same case for this trade we are looking to buy the 1st retrace, if you miss the entry cancel the buy, and do not chase the market. There will be 1000's of trades down the road it is best to remain patient and make the market come to you.
During the daily trading session today we saw the same exact move that occurred on the 14th. The bears failed to take control of the market on the Weekly Profile by not holding the time filter below the bottom of the Persistence Zone as defined be the 2 orange lines. This tells us that the bulls were maintaining control of the market and to start taking all buy signals on 30 minute and lower chart time frames. Picture of the
Weekly Profile is below.
For Free Trial To Live Trading Room Email Me @
derivativeconceptsinc@gmail.com
During the daily trading session today we saw the same exact move that occurred on the 14th. The bears failed to take control of the market on the Weekly Profile by not holding the time filter below the bottom of the Persistence Zone as defined be the 2 orange lines. This tells us that the bulls were maintaining control of the market and to start taking all buy signals on 30 minute and lower chart time frames. Picture of the
Weekly Profile is below.
For Free Trial To Live Trading Room Email Me @
derivativeconceptsinc@gmail.com
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