Day trading course - bearish channel

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 bears had it in the AM and they drove the price down to touch and test the support at the bottom trendline of the bearish channel. The bulls came in to rally upwards and have been testing resistance at the upper trendline. The buyers and sellers are in indecision right now.If the buyers move in and push price past the resistance at the trendline, the next target is at 1240. They could rally all the way up to the next target at 1252.50.

 If the sellers come into the market to continue the current trend the first target is 1228, second target area of support is at 1224 and if that support gives way 1220.25 is the next level. If this support gives way price will go down to test the support at the downward channel bottom trendline.

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Day trading course - bullish trend

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.

Bullish trend has been pushing prices up since last week. The price has been steadily declining slightly till the support 1242 was touch and tested. A subsequent price reversal has movement upward and testing the resistance at 1249. Buyers could move prices up to test next target at 1252.50 and upward to top trendline of bullish channel.If bears come in 1st target would be bottom trendline, 2nd 1242.50. Next support 1232 onto 1226.50, Next target after that is 1215.75.

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.

The prior support has become the resistance as the upper trendline of the bullish channel. There was a rally to this resistance level with a touch and test of resistance then a retracement to test support at the lower trendline.

Now testing a resistance level at 1228.75. If there is a breakthrough of resistance 1st target 1230.25 to 2nd target at 1225.50 and then onto upper trendline. If there is a selloff 1st target 1223, next target 1215.50 . If the support gives way, next target is way down at 1202, then 1196.50. The outer target is at 1185.75

Trade What You See

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Day trading course - shallow bearish channel

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.

Sellers have driven the market down to test support at 1192.50 with a retracement to test resistance at 1211.75. At this time price is in a tight range signalling indecision. If buyers come in there will be a test to the upper trendline of the short term channel. Next target would be 1211 and if that gives way buyers will drive price up to test the next target at 1215.75, then onto the upper trendline of the long term channel. If the bears come in look for price to reach the first target at 1201.75. If the support gives way the bears will take the price to 1196.75 to test the support at that level. The next target of support would be the bottom trendline of the long term channel and onto the bottom trendline of the short term channel.

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.

Market was in consolidation until around 2:30 PM, when price tested and broke through support of the bottom trendline at 1215.25 where it plunged to its present range between support at 1203 and resistance at 1208. If support is strong buyers will come in to drive price up to test resistance at 1215. Next target up would be the top of the channel then onto 1223, then 1227 and top at 1229.75.

If support gives way sellers will take over to try to test targets at 1203, 1196.25 and then way down to 1187.25.

Trade What You See

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Day trading course - bearish

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 bears have just been dominating all day driving the price down from the high at 1226 to the present price point at 1195.25. The price is hanging around in indecision at 1195 to see if it wants to test the support at 1193. If support gives way next level of major support is way down at 1187.

If there is price failure with entry at 1198.25 first target is 1203, next target 1210.75, and then 1217.75 on the way up to test resistance at the top of the long term trend line.

Trade What You See

day trading course

Day trading course

[caption id="attachment_4259" 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. A bull rally in the AM brought prices up to test the resistance at 1210.25. A breakthrough of the resistance brought prices up to test the resistance at 1217.75. With a touch and test of resistance and a drawback, price went on to test support at 1207. A reversal back up to test resistance is now taking place. If there is a breakthough the first target is the top of the channel at 1219. If there's indecision price will range between 1214 and 1206, with targets of support at 1199, the bottom trendline of the channel, 1193 and 1185 Trade What You See  

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