Increased volatility within a wide trading range is a traders “dream”…Trading the Extremes to key support and resistance zones can pay big…Chasing a move can be disastrous…Symmetry is defined as: “Similarity or Likeness in Swing”…Using symmetry in range-bound markets can … Continue reading
Last week we highlighted developing 1st Pullback from “Key Low”. See TwitPic: https://twitter.com/TradePilotPro/status/345241863797755904/ Subsequent strong rally ensued hitting a high of 1635.00 (Sept Contract). Friday’s corrective pullback measured a perfect 50% to 1617 handle where PTG was aggressive buyer in … Continue reading
In yesterday’s trade strategy we were looking for a test of 1596 low from 6/8…that’s exactly what happened, followed by a strong rally which hit projected upper targets. The larger degree pattern setup as “1st Pullback” which we twittered: https://twitter.com/TradePilotPro/status/345241863797755904/ … Continue reading
Yesterday we knew there were decent odds (83%) of a rally greater than 10 handles (which occurred during globex +9.75pts). Failure to move above Prior Day High (PDH) at 1638.25 setup a very nice “short sell” condition during the Open … Continue reading
Last week we noted the completion of Wave 5 down corrective pattern concluding at 1600 handle followed by a rally taking price back to prior pivot high at 1645. Yesterday’s pullback to 1622.00 handle (Note: projected target was 1623-25 where … Continue reading
We highlighted in yesterday’s session the importance of 1646.50 “marker” as resistance…Also mentioned that the bulls were only able to hold price stable and not able to expand the range to upside. This sequence of events is not a sign … Continue reading
Friday’s follow through reversal was quite strong and pushed all the way back to 6/4/13 pivot high. Is this just a “dead cat bounce” or beginning of new up leg?”. We have no answer to that question, so we will … Continue reading
Priced reached our projected downside 1596 handle target yesterday morning by noontime, whereby a strong reversal rally began pushing price up to the upside target of 1623 – 25 zone by settlement. (Re-read prior day’s trade strategy). It’s certainly a … Continue reading
We posted to Twitter on May 30th snapshot of Head & Shoulder Topping Pattern along with post: “IF plays out THEN price projects down to 1600 (160 SPY) http://twitpic.com/cu93q8/full . With yesterday’s sell-off price got within a stone’s throw of the target…LOD … Continue reading
Yesterday’s Trade Strategy was spot on which made for a nice profitable session. Current price action reminds us of “Bricks on Ticks” where each rally attempt produces lower highs and adds more and more selling, thus creating heavier weight for … Continue reading