This week we look at the progress the markets made last week.  Goldman Sachs is trading well below our $100 line in the sand which is a bearish sign for the overall markets.  Thus far, the ES has not been able to breach the 1289.25 level to the upside.  This has meant more sideways to lower action.

The MTPredictor TS3 silver short is up almost 6R (6 times the initial risk) but has hit some DP support off the prior B swing low.  It’s OK to take some or all of your profits in this area.  At a minimum, make sure stops are moved from the initial position to your entry for a risk free trade here.

For the rest of the analysis using the MTPredictor Elliott wave and Fibonacci trading software, check out this weeks video.  Also, check out how we play the morning inside gaps, that tend to fill, using the MTPredictor DP support and resistance areas.

Be Sociable, Share!

• 

Tags: elliott wave software, es, fibonacci trading software, goldman sachs, mtpredictor, silver trade, trading

This entry was posted on December 18, 2011 at 4:16 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Blog by admin No Comments Yet