Emini Trading Update – Friday 7 Mar 2014 (13:09)
Wednesday and Thursday were extremely low range days, 6 and 7 points respectively. Hard to day trade and best to quit early and do something else. But then Friday the range and volume came back. And the trend moves were fast and smooth.
Today’s video is about a couple of things: lower timeframe trend moves = cycle moves in higher timeframes; and, volume patterns are spiky.
Markets reverse when the buying or selling volume momentum reverses. But you’ll often need a final “kick in the pants” to change the market direction. That’s the spikes in volume momentum – the extremes of buying and selling that get the herd positioned on the wrong side, all driven by them chasing a trending market and buying/selling at an extreme.
Well all know what that’s like, been there, done that 🙂
Enjoy your weekend and good luck with your Emini trading next week.