"Holy Rats in a Trap Batman..."
Quick video today showing some of the dandy setups, entries and exits and what I saw in the charts while trading. It was a great example of both Bull Traps and Bear Traps while trading the Emini S&P with the EminiEdge Indicators. Following our trading plan and the defined trading strategy allowed us to make some profits on both the long and the short side by trading with the trend and a reversal later on. The multiple time frame setups helped determine which direction to trade as well as the entry areas by identifying where the professionals and amateurs are showing up as well as the buy/sell exhaustion at the bid/ask. The setups for entry do vary a bit depending on your trading strategy, trading plan and your risk tolerance but today was one of those days that had something for everyone. Yesterday was one of those trend-less days when the choppy action ruled, but the indicators do a pretty good job at picking the peaks off and netting us some profits overall... Hitting the resistance levels for shorts and support levels for longs is always a statistically better bet than trading those darn breakouts but emotionally it seems like the breakout is going to the moon. They rarely do however, but the market does a good job at trying to trick us... but we know better than to fall for that, right?!
Buenos Dias Traders!
What a dandy trade day today. Wandering uptrend with only 15 points of range this morning (are the 100 pointers gone?). This offers a great opportunity to showcase how the multiple time frame (MTF) setups work and what they look like. The first few entries were solely looking at the lowest time frame while trading in the middle time frame, but if you look at the real time trade included here you'll notice a bonus, the longest time frame (4K) has a dandy support that is holding right at the reversal for the morning, yet another reason the uptrend appeared and stayed in place. Love it when a plan comes together! All time frames showing support, the professionals jumping in on the swings down right where the bid/ask volume is exhausting... nice.
Anyway, picture is worth a thousand words and a video is worth a thousand pictures so I'll stop typing and let you get to the meat of it. As always, a subscribe, like or re-share let's me know there's something useful for you and I appreciate that!
Interesting trading during the holiday week of New Years, and volatility, WOW! +100, +101, whatever it takes, right? (Call out to anyone who can tell me where this remote reference is from :). Anyhow, had a couple of dandy setups early on Friday and called it a day. Also, wanted to share a professional trick that I learned from a mentor years ago that is really handy that helps identify where and when to enter on a pullback or bounce. Hopefully it's helpful to you, really did wonders for me years ago, kinda helped frame up the price action, and uncorrelated to boot.
Lastly, trying a little different video structure this year. If all goes well should offer some improved quality for your viewing. Any issues with it please let me know. If this information is useful to you I'd appreciate a "subscribe", "like" and a "share" here... (below the video). Cheap at any price!
Happy New Year Traders!
With 2018 behind us and a brand new 2019 in our sights, I just wanted to take a moment to say "Thanks" to everyone for taking your trading journey with me over the last year and thank you for letting me be part of yours! Over the last year I've made some mistakes (probably too many :) but also made some good progress, ending up as the best year ever. Trading is truly a path with continuous learning which will never be fully complete, but whatever your current status is you should be proud that you showed up, head down, and pressed on every day! Most don't get that far and never truly walk the walk... I sincerely look forward to learning even more with you in the coming year!
Wishing you a Happy and a Prosperous New Year!
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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