Support becomes resistance and vice versa...
11111, 11125, 11155, 11192 Resistance on the YM Emini Futures
11069, 11032, 10994, 10958, 10924, 10894 Supports
Trade smart and trade well!
YM: See the chart posted on the blog here and take heed of the caveat emptor.
Draw a line on your own 60 min YM chart at 10894 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then til now. That is the definition of support becomes resistance and vice versa. Really interested to see what a 10894 test does on next test. Expecting a new high to be made question is will it be a bil move or something significant? FTU will be looking to short the higher TraderSmarts Numbers.
CL: Oil Inventories out at 7:30 PST. Not trading oil for a week I was basing the TraderSmarts Numbers for the last 3 days on the continuous chart which was still using the K contract. When I went to take a trade today I realized my error. Today's Numbers are on the M contract. And significantly, 87.5 was touched on the M contract (high was 87.59) so inline with 87.5 target I have been mentioning. See it all works out. Expecting a 57.5 eventual test still. When to get swing short is the question that needs answering.
6E: Trying to get a CIT off this 1.3286 Number first mentioned in the March 2nd update. The 1.3492 downside target was hit on Friday. Hit the 1.3406 inflection point just now to the tick and popping. Will be long FTD 1.3406 - 1.3388.
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