Had an e-mail from "Jason" who asks if I would let him know if I saw any setups on Friday. Holy cow Jason, they were everywhere! The EminiEdge Zones were spot on again and set up some nice longs and shorts. I'll do a quick rundown of what the EminiEdge followers saw on Friday and the setups that I traded... First, right off the bat (1) there was a great opening gap trade, which sadly was too risky for me. Those with a enormous appetite took this short and sat on it all the way to (2). Wow- about 10 points worth! Next at (2) was the first long which again I personally waited on because there were two reports, the Chicago PMI @8:45 AM (earlier for subscribers remember) and a Consumer Sentiment @ 9AM. Right after the report however I jumped on a short (3) and only ended up with 2 points, but nearly had 4. I was ticked nearly a half a dozen times but couldn't get a fill before it reversed and rallied up. Soooo close! At least I was able to adjust my bias and hit a long at (4) and pull out 3 points there. Next I took (5), a nearly textbook setup with an EE diverge right at the resist turned support for a quick 2 points before bagging out. This is where I stopped, being up about 8 points for the day. There were two more setups short, the reversal of the day @ about 11 AM, with perfect multiple setups, an EE, EE divergence and a Spike Reversal pattern setup, all at a Resistance zone. Wow! Only thing left here was for the market to ring a bell to wake up the traders that were napping so they could get short. Again, this was worth 10 points if you had patience and a lot of time. Lastly there was a continuation move with a beautiful Hurl Setup with EE and Divergence, good for about another 3 points. Even though the support holds near the end of the day (how about those zones!), the Market Strength indicator looked off, so nothing worth entering late on a Friday, especially on the last day of the month...
So there you have it. Something for everyone. Hope all the EminiEdge followers got a piece of something. If you're wondering how I spotted and traded these setups, the EminiEdge Trading Manual E-book outlines 6 of the 7 setups in full color detail...
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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