A few weeks ago I did some analysis in the Emini, saying last week would be critical and it was.
So lets take a look at the chart.
Where I have drawn the yellow dotted line showed a double top, the bar prior to the magenta arrow broke though but straddled the price.
So, if you were a rookie trader you could be forgiven for thinking it was a breakout to the upside. WRONG! Resistance areas are not rods of steel but rubber bands, so that bar in fact just stretched the resistance area and then came back.
Now, all of this (and much more) is demonstrated in our FREE training room every Wednesday at 9am Eastern, by my colleague Randy Lindsey.
So, I cannot encourage you enough to come along to the Wednesday room.
Please contact us at [email protected] for any questions you might have about using Hawkeye Indicators in your trading!
[The magenta arrows are included for illustration only and do not form part of the software]