Hold the Line Emini Hold the Line May 4

May 4, 2017: 2:10 PM CST

Will it Hold?  Will it Hold?

We’re still at a make-or-break key support pivot in the Emini and it’s affecting our trading plans still.

Here’s today’s updated Emini (@ES) trading levels for your trades:

In simplest terms, price established a trading range between the 2,380 and 2,390 easy-reference levels.

In terms of short-term planning, remain “range neutral” between these zone again;

bullish toward 2,400 on a positive reaction above 2,390;

and finally continuation (breakdown) bearish on an actual (not trap) breakdown beneath 2,380 (toward 2,370).

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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Gold Crashes to Support in Perfect Rounded Arc Pattern

May 3, 2017: 11:48 AM CST

The “Rounded Arc” Reversal Pattern is one of my favorite trading opportunities when it appears.

Why?  Let’s take a look at Gold and note the ideal symmetry and forecasting aspect of this key reversal pattern:

Gold established a base at the $1,250 level and then broke higher through April toward our $1,300 target.

From there, negative divergences and a big increase in sell (bearish) volume set the stage for an intraday reversal.

That’s exactly what happened as momentum burst to new indicator lows and price began a new downtrend.

Our operating target was once again the $1,250 level and price achieved it today after completing a powerful Rounded Arc Reversal Pattern.

It’s my favorite because it gives a clear target – the prior low – and the right side of the chart (the side you’re trading) resembles the left side of the chart (that “built” the pattern). Continue Reading…

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Fed Day Emini Range and Level Planning May 3

May 3, 2017: 11:20 AM CST

It’s a Fed Day! What will happen later this afternoon?!

Here’s today’s updated Emini (@ES) trading levels for your trades:

In simplest terms, price established a trading range between the 2,380 and 2,390 easy-reference levels.

In terms of short-term planning, remain “range neutral” between these zones; bullish toward 2,400 on a positive reaction and breakout later today; and finally continuation (breakdown) bearish on another stab beneath 2,380 (toward 2,370).

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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Emini Forms a New Range at the Highs May 2

May 2, 2017: 1:57 PM CST

We have a new short-term trading range at a key support level beneath the high.

Here’s today’s updated Emini (@ES) trading levels for your trades:

The powerful bullish surge took us back toward our 2,400 target but the last few trading sessions formed a range.

We’re playing the short-term highlighted range just above the 2,380 Fibonacci and Price support pivot.

As we go into Wednesday’s Fed Day session, note these levels (2,380 and 2,390 for simplicity) and get ready to trade the departure from this key pivot.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

Continue Reading…

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Fantastic Facebook FB Breakout and Surge May 1

May 1, 2017: 12:13 PM CST

Facebook (FB) shares surged powerfully to new all-time highs after two recent bullish breakouts.

The recent upswing and breakout has been persistently strong, but is it overdone?

Let’s chart the breakout and step inside the price action:

2017 has been very kind to Facebook shares as an initial breakout above $130 sent price surging to $140.

After a small pullback, we’re seeing price surge higher – even stronger – on a second breakout in April.

For now, we’re seeing volatile price action via two recent big upside gaps that sent price surging above the 20 day EMA.

In general, we see price pull back toward the rising 20 EMA and then surge up away from it.

In other words, it’s a bit risky to get long right now in Facebook for anything other than a day trade or two.

Here’s the picture and structure on the lower frame: Continue Reading…

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