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« Learn to Trade Emini Futures - Dynamic Support And Resistance | Main | Learn To Trade Emini Futures - Support And Resistance »
Monday
Jan302012

Learn to Trade Emini Futures - Fixed Support And Resistance

DateJanuary 30, 2012 at 6:49 PM

(QQQQ)(DIA)(SPY)(GLD)(SLV)

FIXED SUPPORT AND RESISTANCE

The S&P500 Emini Futures opened the Globex session last night at our Fixed Resistance level 1313/1314. By the London open price dropped 12 points to our Fixed Support level 1301/1302. Below is a chart that shows exactly what happened:

S&P 500 Emini Futures (ESH12) 12 Point Drop on Globex

 

Once price reached our Fixed Support we had 2 nice bounces. Each worth a days wages. Following is a chart that shows the first bounce of 4 points followed by a 2.5 point bounce. The market is giving us important information when the second bounce puts in a lower high. We will discuss this Thrusday night in the Partners Meeting.

S&P 500 Emini Futures (ESH12) Double Bounce on Globex

 

Now that "important information" I mentioned earlier, positioned us to take advantage of the next market move. Remember, 1302 was the support price that gave us 2 buying opportunities. That same price now becomes the price we use as resistance to sell against. Here is the chart:

S&P 500 Emini Futures (ESH12) 4 Point Drop On Globex

 

That little decline off fixed resistance was also worth "a days wages". The good news is, there's still more to come. Look at what happens next on this chart at our fixed resistance level:

S&P 500 Emini Futures (ESH12) 5 Point Drop

 

Price trades back above our original number and now fixed resistance becomes fixed support. When trading Support and Resistance you will see this repeat again and again.  Here's 4.75 points:

S&P 500 Emini Futures (ESH12) 4.75 Point Double Bounce

 

And I have indeed saved the very best for last. If your day was not already made on any one of the previous trades, the next opportunity to trade that same fixed support number delivered a whopping 11 points from our fixed support at 1302 right up to our fixed resistance at 1313. This is not magic, this is math. Again, this will be a major topic of discussion this Thursday night in the Partner's Meeting.

 

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