May 13, 2013
- in Uncategorized by schooloftrade
E-Mini S&P Futures Prep
 |
| E-Mini S&P Anchor Chart |
The E-Mini
S&P shows us some very big, but conflicting, clues this morning when we use
the slower anchor chart to prep for the scalping-strategy. First, we see the bull price-channel which
tells us to buy at support levels on the way up. Second clue is that we’re trading at the
HIGHS of this price-channel which will act as resistance overhead and create a
difficult scenario for the buyers if they don’t have some serious support behind
them when they try to push new higher-highs.
Third, we see the green cloud which is very bullish. Fourth, we can see the short term sideways-trading-range
which is the most important of all the clues we see on this chart of E-Mini
S&P. We are going to sit-on-hands and
wait for a new higher-high or lower-low before we take our first scalping-strategy
trade this morning, and ideally we would prefer to see lower-lows and a selling
opportunity back off these highs.
S&P shows us some very big, but conflicting, clues this morning when we use
the slower anchor chart to prep for the scalping-strategy. First, we see the bull price-channel which
tells us to buy at support levels on the way up. Second clue is that we’re trading at the
HIGHS of this price-channel which will act as resistance overhead and create a
difficult scenario for the buyers if they don’t have some serious support behind
them when they try to push new higher-highs.
Third, we see the green cloud which is very bullish. Fourth, we can see the short term sideways-trading-range
which is the most important of all the clues we see on this chart of E-Mini
S&P. We are going to sit-on-hands and
wait for a new higher-high or lower-low before we take our first scalping-strategy
trade this morning, and ideally we would prefer to see lower-lows and a selling
opportunity back off these highs.
