Thursday, May 5, 2016

Price Action Trading The Wedge Breakdown On The E-Mini S&P500 Futures;

Today we have the S&P 500 working lower from the highs but in mostly a range overall on the day. This means we are looking to buy low and sell high and assume most breakouts will fail.

We end up showing a wedge right towards the bottom of the range looking for a breakout move before buyers will likely buy into the breakout assuming failure causing a nice little drop!

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