We’re back, after a week’s boat trip surfing in the Maldives. Could have easily stayed another week – but then we’d have missed all the action. Boy or boy – are you sick of hearing about Greece yet? At least we’ve now entered the final stages.
This latest downtrend move set up last Wednesday after a nice little “End of Trend” signal on the 40,500 tick and 45 minute charts (last blog post). We’ve now got to travel and see the same kind of set up in reverse to end this move. Remember we’re also coming into another Seasonal Trade – 4th of July strength. So potentially we’ve got a mid-week reversal.
First thing Monday morning we had a nice “close the gap” trade. Which then set us up for a long downtrend move back down below where the Sunday evening gap down open started. Typical knee-jerk reaction from the Greek news that the Professionals traded against.
Good luck with your Emini trading this week.