Cycles Sync Up – Friday 23 Aug 2013 (10:00)
The Emini bottomed Wednesday with a nice little End of Trend on the 45 minute chart syncing up with Cyclical Support on the daily chart. And we’ve rallied back up 25 points.
But the next resistance we’ll test is closing the gap on the daily chart – in the 1,670s – and running into Cyclical Resistance on the 135 minute chart. So we’ve got that to look forward to next week.
The best trades always come when everything syncs up. Today was a good example. Look for Support or Resistance to come together on the 4,500 and 1,500 tick charts – and then play the breakout on the 500 tick chart.
The trick is to look for confirmation from the Professionals. If you’re going Long, look for the Professional blue bars to come in on the dips, hold and break above the highs. Anyway, check out the video for some examples from today’s trade.
Good luck with your Emini trading.