Price Coil Creates Powerful SP500 Trade Setup

Price Coil Creates Powerful SP500 Trade Setup

Whenever we see extended price consolidation at a Weekly Trading Zone we anticipate a powerful move. Today was certainly no exception. The most difficult aspect of trading a consolidation, or coil as it is often referred to is patience. Price spent a total of 14 hours coiling at the 1451/1452 Zone before we called an entry based on the hourly chart and a secondary chart pattern which I will be teaching in the near future. Just before the Live Trading Room session ended we suggested that if the market presented the opportunity to buy 1451 on a pullback that the upside potential was significant.

During the 30 minute break which we take each day between the Trading Room and the Emini Daily Radio Broadcast the entry was triggered and the trade only suffered a 2 tick draw down. On the chart below you will see the entry highlighted by the first yellow arrow. The initial target in this case was the previous swing high at 1457.75 which occurred 2 candles prior. Based on recent market ranges an intraday shot at 6.75 points for a 2 point risk is very acceptable. The previous swing low was 1448.75 so using as much as a 3 point stop for a potential gain of 6.75 is still in our book well worth the risk.

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Long Legged Doji Confirms Support Level

Long Legged Doji Confirms Bullish Engulfing Support Level

Our last post highlighted the potential power behind finding a Bullish Engulfing Pattern in the S&P500 intraday market. As pointed out, they are not a common occurrence on a Globex Futures Chart. However, every Trader should be able to recognize it when it does appear and be prepared to take action and trade it for whatever profit potential it presents.

The chart below shows the 24 hour period following the day the pattern appeared.

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Example Of Bullish Engulfing Pattern

Bullish Engulfing Pattern Defines Market Direction 

One of the easiest candlestick signals to spot besides our consummate favorite the Doji, is the Bullish Engulfing Pattern. This is one of the 12 primary signals taught to me by candlestick mentor, Steve Bigelow. 

A candlestick purist might debate whether or not the example I will show you on the chart below truly qualifies. The issue would be in the wicks. The point I need to make is that when trading Emini Futures intraday, it is extremely difficult to obtain the pure textbook definition of Bullish Engulfing as it might apply on a Daily Chart where the overnight Globex session is not taken into consideration.

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Emini Podcast For Monday October 1, 2012

The S&P 500 Emini Futures opened the new quarter with two-sided volatility. The day began with a brisk run up to our Weekly Trading Zone at 1451/1452. The first chart below is an hourly chart which shows a very impressive Bullish Candle. Although we find the hourly charts to be extremely beneficial to our intraday trading, on the second chart you will see that the bulk of this action which was in fact a news driven event (PMI) transpired in just 5 minutes. The fact the market was unable to continue the rally during the next few 5 minute candles gave us a heads up that we might possibly have already seen the high of the day.

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Getting Started With Emini Futures

Welcome to CFRN and the world of Emini Futures Trading.

Getting Started With Emini Futures - Video Guide

If you're a first time visitor to CFRN, take a few minutes to watch this video -

(Blow it up to Full Screen HD for the best experience.)

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How To Trade

Learning to trade is the first step in what can be one of the most financially rewarding careers in the world today. The barrier to entry is extremely low which also plays a large role in why far too many traders fail to thrive and/or even survive. On the surface, modern technology makes the business of trading seem so very simple that many traders never invest the time or energy in the most critical step of becoming a trader. That would be the part where they actually learn -

How To Trade

Whether your ultimate goal is to build your own trading business or to work for a bank or hedge fund, you must have a solid foundation of knowledge and understanding. It may sound elementary to make the statement, "To become a Trader you must learn how to trade", but that is the core of what separates those who succeed and those who don't.

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Weekly Trading Zones Frame Emini Market Action

Listen to Wednesday's Emini Radio Broadcast by clicking the headphones above.

Weekly Trading Zones Frame Emini Market Action

As a new trader the markets often seem like nothing more than utter chaos. The purpose of our Weekly Zones are to give you a structure or framework to work within. Before the market opens on Monday we email and post our projections for the entire week. We post the highest level we expect the market to reach (resistance) as well as the lowest (support). We also cover the levels in between where we believe the market will consolidate as the week progresses.

Rarely do we see the week close outside of the zones. You can review 2 years of charts on the blog or click the button on the toolbar below "CFRN Charts" where you will find some 700 charts many of which show how we use the Zones week in and week out. After reviewing the charts you can APPLY and put our Zones to work in your own Emini Futures Trading.

Many of our Partners state the value from the Zones alone have more than offset the cost of our 90 day comprehensive training program and proprietary indicator set which you keep for life. We understand that in tough economic times pursuing an education can be difficult. In response we are proud to announce that we now offer complete financing for those who wish to become a partner. "18 Months Same As Cash" is just one of the many options now available to those who wish to make an investment in their financial future. To learn more email support@cfrn.net or call us at 415-857-5654 for full details.

The chart below is just one more week (this week) between the Zones.

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Emini Futures Live Trading Report

Reminder: We broadcast Live every trading day from 12noon-2pm Eastern. Join us for Live Charts, Lively Discussion and the occasional Live Trade. To join the broadcast and participate in the discussion visit our Daily Broadcast page.

"A COMMUNITY OF BELIEVERS WHO TRADE FOR A LIVING"

With Traders around the globe, from Pomorskie Poland to Houston Texas, we have become an international organization focused on equipping Partners with cutting edge proprietary technology and world class technical analysis. As we grow it is important that we never lose sight of our original goals, to nurture and train emerging Traders who themselves are equally dedicated to making the world a better place.

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22 Business Building Tips For Emini Futures Traders

This Emini Podcast is an excerpt from the final hour of our daily broadcast on Monday Sept. 24, 2012. The information is timeless. Whether you're brand new to Emini Futures Trading or an old salt who walks with a limp, there's something here for everyone. Simply left click the headphones above to stream the Podcast, or right click and download to your desktop or mp3 player. As always you can subscribe to our Podcast via iTunes.

22 Business Building Tips For Emini Futures Traders

#1) Tweets / Why important areas are almost always tested.

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Hidden Divergence - The Silent Thriller

The ability to spot divergence in the Emini Futures gives traders a distinct advantage.

How To Trade Hidden Divergence - The Silent Thriller

Typically when you hear someone speak of divergence in a particular market, they tend to be looking for a reversal or change of trend. In a bullish market they anticipate prices heading lower and in a bearish trend they anticipate prices heading higher.

Ordinary Divergence is easy enough to spot once you train your eyes. In a bull trend price will make a lower low while indicator you are using makes a higher low. In a bear trend, prices will make a higher high while the indicator will make a lower high. That is ordinary divergence and is used as early warning that the momentum in the current direction is waning or has come to an end. Popular examples of the momentum indicators used are the RSI or Relative Strength Index, the Stochastics Oscillator and many others. Of the two mentioned both of these have a range of 0-100. While they are commonly used and readily available in most trading platforms, we have developed several proprietary CFRN Tools we believe do a vastly superior job of identifying divergence more accurately and on a more consistent basis. Make no mistake, understanding ordinary divergence is a tremendous trading technique.

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