Emini Trading Update – Tuesday 13 Aug 2013 (12:00)
Well 1,680 has held – again. So it looks like we’re going to test the top of the range at 1,700 – again. We didn’t get the strong upward break on currencies that I was hoping for. But all hope is not lost – I think we’re just waiting underneath resistance for another go-around.
Today’s low was beautifully marked with a nice Bot Signal – within 0.25 point of the low! Then we had the classic combination:
- Exhaustion selling with blue Professional bars
- RAMBO pattern with Amateurs getting wrong-footed
- First bullish divergence, showing potential change in trend, and
- Price confirmation with Pull Back to “Dirty” End of Trend
Then away to the upside.
Good luck with your Emini trading.