Support/Resistance Triple Trade – Tuesday 22 Apr 2014 (10:09)
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The seasonal “tax time” trade worked out well today with a final pop up. And it was also a triple break of Resistance. Strong moves always come out of “triples” – where all 3 time frames synch up – the trick is getting the direction right.
Yesterday, we had Exhaustion selling into the triple Support and so the right trade was to go Long at Support. Today, we had not had Exhaustion buying (and so the uptrend was still in place) into the triple Resistance. And so the right trade was to go Long on a break of Resistance.
Good luck with your Emini trading.