Trading Educators Blog
Hey Joe! I'm an intermediate-term trader in the e-Mini S&P. I'm trying to fill out my trading method so that it is a complete technical trading approach. Do you have any thoughts on this?
Following is a technical trading answer: A complete trading approach should equate about two or three weekly intermediate tops and bottoms per monthly major top and bottom movement. About the same number of short-term tops and bottoms should appear for the intermediate term price movements. The advantage of a pattern recognition system, like the 1-2-3, involves always knowing where one trend is in relationship to other trends. Several times a daily signal will achieve a weekly time and price objective, without a short-term reversal. A sharp retracement is normally expected after that occurrence, of about 150% of the normal short-term counter trend movement. An S&P short term 300% over extension may expect a 180% counter trend overextension.
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