Emini Resistance and Support
Ho hum, boring day.
Anyone who just glanced at yesterday’s closing price and today’s would conclude nothing happened.
As a trader, we experienced a bit more, wouldn’t you agree?
Note the heading of this blog, and the caption on the chart below.
Subtleties exist in the market, and we must always discover them, because there is a huge difference in our results based on timing.
Small difference if we went long on the open and short on the close; but devastating if we play it that way and don’t respect stops.
Strength and Honor.
Courage to take the trade, Honor your stops.
We are trend traders, but remind you we love to find late day support for the contra trade. This is the one that fools all the mantra traders: (“The trend is your friend.”)
…until it ends is the last part of that saying.
R2 to S2 and 28 points later is reason enough to be cautious EOD.
First and last hours are special animals that have a mind of their own.
If you played well, congrats. If you didn’t, keep up the good fight.
Get the tools the professionals use and learn the rules.
And play some music here and there and relax… it’s not a funeral you know.
Lighten up and have some fun.