Watching where the Amateurs and Professionals are active really helps “understand” the chart. Today’s top was a nice Head and Shoulders pattern with Amateurs playing on the right shoulder.
You know you’re in a downtrend when you see this activity:
- Support levels are being broken
- The market just bounces off Resistance levels, and
- Amateurs are active on the retraces, thinking the bottom is is.
And the Amateurs were active all the way down today. On the first right shoulder, then the next retrace and the next and so on. All good Short entry points.
Good luck with your Emini trading.
(The image in the video splash screen is of John Gavin in the 1960 film, Spartacus. A friend of Ronald Reagan, Gavin was made US Ambassador to Mexico in 1981. Just love those classic old movies.)