Howdy everyone!
Had a great day Emini trading with the EminiEdge Zones pulling their weight again today. Reinforcing the last update, seems like we're getting a bit top heavy up here, setting up a sharp move. Commercials are jumping last week and have apparently hedged their bets as a huge swing happened, perhaps signaling a change in sentiment. Interesting how these things seem to play out, if only I usually wasn't so dang early... Good Trades, Trader Joe Hello Traders,
So what a rally we have had... Wow! Over the last few weeks we've seen an unprovoked yet sustained upturn in momentum that I didn't expect. Strength everywhere, but is it over or is it just a pause before the big surge forward? Okay, seemed like a good parallel between the market and Trump, but now looking at it, maybe it isn't as clever as I thought. Oh well, makes me smile either way. Anyway, I'm guessing we're not done yet but we have to take a pause somewhere, the market rarely moves in straight lines. Find myself wanting to still short this thing but I gotta remember to trade what I see, not what I think... The video goes through the Emini trading for Thursday, right before good Friday and the Easter rally. Markets were closed on Friday so we have to wait until Monday to see what happens. Take the long trading weekend and make hay as they say... Good Trades, Trader Joe Wow! What a perfect day to demonstrate the power of the Emini Trading Edges. Had a bit of a sideways day, only adding about 5 points after a couple of weeks of straight up action on a longer term basis. Kind of surprised we haven't had a bigger term drop yet to be honest, but the last few days of action may be indicating a bit of a stalling scenario running out of steam. Of course, we need to trade what we see, not what we think. Thanks for not emailing me with your criticism after I keep saying a drop is in the cards. I may not be wrong but early (as usual). The setups were plentiful today as indicated in the image above, so I won't walk through them all. Early setups were mine, bias telling us to short against the initial resistance right after the beautiful EE Divergence, followed up by a re-entry if you missed the first one, followed up with an EE exactly at the support to flip to the long side for one heck of a morning, done by 10:30 AM. I know that's late for me but sometimes you have to endure the pain of a full 2 hour day... Oooohhh the agony! Not much else to say, setups right out of the manual, no flash or flare, just profits in our pockets if you traded the plan... Hope you all got a piece of it! Good Trades, Trader Joe Hello Traders!
Today's action felt a little funky to me. Maybe it was due to the recent rollover, maybe it was me, don't know. In any case, our Emini support and resistance zones were spot on and gave us a few dandy setups, letting me finish earlier than normal. Still waiting for the longer term picture to play out, but until that time I'll trade what I see, not what I think... Wait, have I said that before? Huh. Good Trades, Trader Joe OK, saw this while at a gas station yesterday. No explanation necessary... Funny!
Gave me and Mrs. EminiEdge a good laugh :) Good Trades, Trader Joe Hello Traders!
A quick review of the longer term action suggesting that the Emini is hanging on by a thread, or... is... it...? Have some structure telling us to trade what we see, not what we think, but remember a failure of a signal is a great signal in the opposite direction. Our day trades worked out awesome today as our support and resistance levels worked their magic and kept us in the profits once again. About 15 points per lot today, good enough to pay the bills, and done in the first 2 hours, just like we like. Hope this is useful to you, and if so, don't be shy, drop a +1 somewhere or drop an e-mail, I enjoying hearing from traders... Hope you had a great days trading... Good Trades, Trader Joe |
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Author"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com. Archives
March 2020
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