Well, spectacular 3 days trading. Huge ranges, big volume and sweeping trend moves. Difficult not to over-trade on days like these – it’s as if a week’s trading is crammed into a day.
And I do hope your Emini trading is going well.
In Wednesday’s video I said we’re through Support levels on the higher time frames and the down trend move won’t be over until we see “Pull Back” to “End of Trend” signals on Better Sine Wave. And even after breaching 1,900 on the Emini, we still have yet to see this signal on the 45 minute chart.
The Emini day trade in the video was a bit cute – a reversal Long trade on what ended up being a strong down day. Normally the Emini will have a maximum of 2 trend moves in a day. But on Friday we had three – down, up and down. And this trade set up Long, almost like a Short covering rally and just before the Professionals sold it down into the Close.
Don’t forget those extreme Closes on range or trending days (Rule of Thumb #5).
Good luck with your Emini trading next week.