"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?!
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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