Day trading course - descending wedge

[caption id="attachment_4065" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Buyers are testing the resistance at the top of the the descending wedge. If resistance does not break expect a test to the support at the bottom, it could follow the long term bearish trend that has turned into a ranging channel between support at 1325 and resistance at 1340. If there is a breakout at the top of the wedge expect to go to the next target area at 1331.50 . Next would be the top of the long term channel and 1339.75. If support gives way you could see ptice go all the way down to outer target at 1309.75 Trade What You See

day trading course

Day trading course

[caption id="attachment_4056" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption] Trading the S&P500 emini futures contract in the S&P500 day trading course live room. Over the weekend a big bear move created a gap and proceeded to touch and test the support at the bottom of the channel with price failure to 1328. Followed with some indecision and another series of tests to the bottom of the channel. Looks like buyers are trying to close the gap and test upward to first resistance at 1334 and could move to next target at 1342. If resistance gives way, look for price to test the top of the channel and possibly go up to test the outer target at 1360. If sellers come in and break through support at the bottom of the channel, first target is at 1325, next target is at 1322 and outer target is 1316.75 Trade What You See  

day trading course

Day trading course

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Day trading course l 866-640-3737 l Day trading education

The Bulls have been in control and driven prices up. At this time prices consolidating and testing resistance at around the top of the channel.If trend continues, look for price to move up towards next target at 1359.25. If the trend reverses and the sellers take over, look for the next support at 1334.75,

next support test area at 1326.00 and if that gives way 1321.25 will come next. 1315.50 after that.

Trade What You See

day trading course

Day trading course - consolidation

[caption id="attachment_4035" align="alignleft" width="300" caption="Day trading course l 866-640-3737 l Day trading education"][/caption]        

day trading course

Day trading course - testing resistance

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

The buyers have moved prices up from the low of 1291.50 to touch and test resistance at 1309.50. If they succeed to move prices past resistance, the next target is at 1314.50 and could reach outer target at 1320. If the resistance holds price will move down to test lower support line of the recent bullish channel and possibly go to test next target at 1302. Next level of support would be at bottom of long term bearish channel and could move onto test target at 1282. We'll see what happens with budget negotiations.

Trade What You See

day trading course

Day trading course - Consolidation

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Ranging between resistance at 1309.50 and support at 1305.25. Consolidation through a bearish trend, if buyers come in and resistance is broken through, next test level in the 1315 area . Possibility of price breaking through top of longer range and going up to test the outer target at 1331.25.

If sellers continue the trend and price sinks past support of 1304.25, the next target is at 1300.50 , and then onto support at bottom of the channel. 1293.25 is the outlying target if buyers continue to dominate.

Trade What You See

day trading course

Day trading course

Day trading course l 866-640-3737 l Day trading education

Trading the S&P500 emini futures contract in the S&P500 day trading course live room.

Break through resistance of the long term channel. Resistance is now acting as support, it looks as if it might go up to test resistance at 1319.25. If price breaks through, the next resistance level will be at 1323.25, possibly then to go up to test the target at 1348.00.

There is strong support with top of channel and support level at 1313.25. If price does break down through this level, next support will be at 1307.50 and might try to go down and test the next target at 1295.25

Trade What You See

day trading course