What a week! Hope you enjoyed your trading. We’re starting to see some Professional money coming in on the Lows. Friday was a High Volume Churn day on Better Volume and Stopping Volume on Better Pro Am.
But … we need to see the “Pull Back” to “End of Trend” signals, testing the Lows, rippling through the timeframes before this is all over on the downside. So far we’ve only seen one of these Better Sine Wave patterns on the 45 minute chart. I’d like to see these on the 81 and 135 minute Emini charts too.
Highs and Lows can be made with either spikes or rolling over patterns. Highs are more likely to be made by rolling over – and spikes up are less common. But Lows are more likely to be made with spikes down – and rolling up is less common. But they all have a testing phase, where at a bottom the Lows are tested – and that’s what the “Pull Back” to “End of Trend” is identifying. Let’s wait and see.
Monday is Martin Luther King Jr day in the US, so we get a break from trading. Remember, you can always check for significant dates on the Emini futures calendar here. Plus here are links to The Gathering Pattern and Falling Through the Ice – both classic Professional activity signals.
Good luck with your Emini trading.