I've set up this blog to post some of my analysis and trades. I trade the E Mini S&P futures contract based on price action, mainly PIN bars, along with support and resistance, fib retracements and divergence. I will be posting important support and resistance levels each day including some levels based on market profile.

I will also post trades that I made trading off the 5 minute chart on the ES (e mini S&P) and occasionally trades off the 1 hour timeframe although they occur less frequently.

Tuesday 6 April 2010

Resistance above 1183.50?

If we break out above 1183.50 there is no clear resistance, I will however looking at 1186.75, this is the fib extension 161.8% of the move down from 1183.50 to our most recent low of 1178.25. I would need to see some very good confirmation to take this trade. One possibility is a trendline drawn on the highs on the 1 hour chart or preferably a one hour PIN at high stochastics with some divergence around 1186.75. Time will tell.
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