Emini Trading Update – Wednesday 23 Jan 2013 (8:58)
If you appreciate these free Emini trading videos then hit the Google +1 button.
What a painfully slow market today – I suppose everyone was waiting for AAPL’s results after hours. And at the moment AAPL is under the psychologically important $500 level.
Today’s range was only 6.5 points. Despite that, we had a beauty of a reversal signal. Almost everything coming together for a picture perfect trade (as if there were such a thing):
- End of Trend on 500 tick chart
- Syncing up with Cycle Support on 4500 tick chart
- Bullish Divergence after Exhaustion selling on 1500 tick chart
- At a Support level on 1500 tick chart
- Followed by a cluster of Professional bars on a retrace on all 3 timeframes
- All happening before 11am, the window for a Reversal Day
The move ended with Professional bars on the Highs and Exhaustion volume. The trade was good for 4 points. I jumped out early, as usual. But it’s better than a poke in the eye with a sharp stick.
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.