Emini Trading Update – Thursday 15 Aug 2013 (11:36)
Finally. Yes, finally – we get the break of 1,680 and the Emini is down into the 1,650s now. Feel stupid that I “lost the faith” on Tuesday. But that’s trading, I suppose.
And those Currencies are breaking out too – having gone through some “Amateur down bars”. Look for those patterns, they’re really helpful as tests. I suppose if equities weaken we normally expect the US Dollar (and Bonds) to strengthen – but this time it looks a little different. We’ll see.
After a big down day the range usually compresses a little – we also can push to new lows (very briefly). So I’ll be looking for a bounce after that.
Good luck with your Emini trading.