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My Forecast For Today Is -  - 
 
#ESH4 - I snapped a #Chart  of the #SP500   #Emini   #Futures 4 hours ago (roughly). We've traveled sideways now for 5 hours at the Weekly Trading Zone 1818/1819. Is this unusual? No.

We expect price to pause, relax, coil, consolidate, and then attempt to either move to the Zone above, or the Zone below. Often we see a move (a leg), we then retrace back to the Zone to confirm that we have now established either new resistance or new support.

We then wait for the continuation of the move. On the chart below, see where price broke below 1829 and then came back to touch it. A farewell, a goodbye, another doorknob in an endless line that MUST be touched.? I don't know... It just happens. So I wait for it to happen, and then we trade. 

In this ever changing world in which we live in, whenever I spot a constant in market behavior, I weave it into the plan. I pull it out from under the bread oven (the plan) weave, then shove it back in place.

That'll make you read the previous few posts..... =)

So am I telling you here on late night blogio, that price will either rally up to 1829/1830, or drop to 1804/1805. Yes sir. That is exactly what I'm telling you. There are few absolutes in the world of trading, however, with 2 days left in the week, I say with great confidence, by close of business on Friday or much sooner, price will indeed rally up to the Zone overhead, or drop to the Zone below, because we are sitting inside of a Zone right now @ 1818/1819.

Now I'm not one for predicting the future. Not my forte'. Not my strong suit. Not how I roll. However, in a profession where any absolute is a rare occurrence, there you go. So, if you believe me... for whatever reason... just don't use the 3-4 year public track record because we all know that past performance is no indication of future results. Right? However, if you do agree, how will you turn your belief into dollars?

Obviously you will have to trade it, one way or the other... but how?

The move up Zone to Zone would be a 10 point move. The move down would be 13 points. With the S&P 500 as you know, 2 points is sufficient for us. That's $100 per contract, per day. So we just leave all that money on the table?

If you're just starting with us, you have bigger fish to fry. You have to learn how to think in probabilities. You have to get your emotions under control. You have a lot of work to do like developing discipline.

If it's the trade you're concerned with, you could probably consider being long above 1822 or short below 1815, whichever presents first Just an idea... Looks like a way you might get those 2 points, certainly plenty of room to run. Remember, no matter how good it looks, or how far it has to run... you need a hard stop.

The Slingshot not only gives you precise entries to the tick 100% of the time, it also insures that you never risk more than 8 ticks. Getting stopped out is cheap insurance. It guarantees you'll still be in business tomorrow and as long as you're still in business, there will be plenty of other opportunities coming down the pike.

Partners of course are staring down the barrel of their Slingshot. Right?

Speaking of, don't forget Partner's Meeting tonight (Thursday) 9pm EST until every question is answered. You must be a Partner to be in the Workshop. Check your inbox for details.

Also, I don't always mention this because men of a certain age tend to forget things. However, we do record the daily Live trading Room every single day. We've been doing it now for over a year. Why is that important? Well... the best way to learn how to trade in my opinion, is to watch someone trade.

I suppose that goes for everything from tennis to taxes and whatever's in between. Of course at some point you have to actually get in the water and do a few strokes of your own, but having seen someone swim, to know the body can really keep itself afloat and not just drop to the bottom like a stone, is very encouraging.

Back in the day, our Partners were only able to see 2 hours per day of Live Trading. Now, you can watch it around the clock. As much and as often as you like. For those who have limited time, day jobs... this is invaluable. It can greatly shorten the learning curve and it fits YOUR hours whatever they may be. I think the math says we have between 300-400 hours of Live Trading on tape.

We also have lots of training videos where we aren't trading and those are invaluable as well, but to watch someone put on and take off Live Trades over and over and over. is huge...

We never create unrealistic expectations (on purpose). We simply show you what can be done, in 2 hours, day after day after day. It's a powerful tool I really wish I had when I started. It would have saved so much time, pain, frustration, aggravation and that all too familiar foreboding sense of hopelessness?

Am I ringing any bells out there? Good.

We're here to help.
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If you need help, ask. Private tutoring or mentoring? Ask. I'm not just speaking to Partners, if we've assigned you a seat in our Free Trial this week, I'm talking to you too.
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