Tuesday, March 6, 2012

Day Trading Course - test of former support at trendline

[caption id="attachment_5002" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l learn how to daytrade l Day trading education"]Day trading course l 866-640-3737 l learn how to daytrade l Day trading education[/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. There has been a bearish move down with sellers moving price past the bottom trendline to test support at 1338.50. Buyers pressure came in and moved up to test price and found resistance at the former support level at the trendline. If sellers come in the 1st target is 1343 with the next target of support at 1338.50. If there is enough buyers to come in and break resistance at the trendline the 1st target is 1347, next target is 1352. If that level breaks, then onto next resistance level at top trendline, which also coincides with the target level at around 1355. If buyers pressure keeps up the next level to test is 1358.75, with the next target at 1362. Trade What You See

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