Where did I come from?

This age old question, and it’s obvious counterpart “where am I going?”, are some of life’s mysteries.

To the astute trader, however, the rear view mirror gives us clues as to where we are going.

Previous support, when broken becomes resistance. Previous resistance, when broken, becomes support.

This tends to work in all time frames, and the market has a distinct memory in certain time frames.

This is part of the core methodology we use at eminiwizard.com to help frame the secret code of the illuminati.

35+ points were available to our traders who understood these dynamics and coasted downhill. Today’s scalp long guessers got crumbs while the trend traders sat back and let the bobsled run.

Note in today’s chart the continuation entry was the key. Then all that was necessary was to keep your hands in your pockets and away from the mouse as only small bounces were available. Take this ride all the way to today’s logical bottom.

The head and shoulders pattern that began yesterday left a lot of late longs underwater.

Once you learn these patterns, the wind is a tool for you to use.

Do you have a favorite chart you would like to share?

I leave my proprietary indicators off these charts but show the general concepts. Our students get access to all of my favorite tools.

Check out this excellent market technician for more insights.

 

head ans shoulders reversal