Friday, July 8, 2011

E-Mini SP500 Futures Head and Shoulders

I believe this is the Beginning of a Nasty move and I have been talking about for months, I seen this coming see video http://chart.ly/ggta36p Notice the small and H&S inside of the larger one that's forming. I have been watching this 1352 level for quit awhile as you can see its the measured move of the larger pattern. I got some emails on why to short the 1352 area and this is exactly why (yes i know there was fundamental data behind this move also, but getting in at technical areas and getting some fundamental data to kick in is ideal). Being a proactive trader is the only way to make money in this game reactive traders are left behind on a moves like this. Note: this is no after the fact either I'm posting this for educational purposes/examples, scroll through my twitter account I mentioned the 1352 level several times before it traded. Also one interesting point was the media and retail traders missed this entire move and they were buying the highs and now there stops are getting hit. This happens all the time! I'm posting this to show the importance of being aware of every scenario. Good Trading Kratrader.

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