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Monday 22 December 2008Trend Line Break Today
The Congestion Zone (white bars in the chart below) that has developed over the last 2-3 trading days has now resolved with a trend line break to the downside today.
Congestion Zone and Trend Line Break (Emini 135 minute)
In the afternoon, the Emini bounced 20 points off the 852.75 low. However, the highest volume of the day was late in this rally, between 865 and 870. This could be Professional sellers entering the market. So I’ll be watching tomorrow’s late morning trade for any signs of weakness.
The latest release of the Better Trend Line indicator has a couple of improvements. These include the ability just to plot the last 2 trend lines - a feature requested by a number of users. Look out for an email over the next couple of days with a link to the latest version of the Better Trend Line.
Good luck with your Emini day trading.
- Trend Lines and Entry Signals
- Trend Lines and Congestion Zones
- Trend Line Holds, For Now
- Re-entry Using Trend Lines, Volume and Hilbert Sine Wave
- Emini - Signs of Strength
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