Nickajack Creek Trading Co., Inc.

Support and Resistance Day Trading

December 4th, 2007

12/04/07 YM Trades

Today was another range bound day.  The YM opened about 60 points down and rotated around the open price most of the day.  I did not take any trades today.  Looking at the chart, I just don’t see any good trends from which to trade.  This would have been a good day for a range bound trading strategy but not for a trend based strategy like the one I’ve been documenting in this blog.  My software marked a few setups and there where two divergences so a few profitable trades could have been found.  The first blue arrow could have been a trade because it looked like a pull back in an up trend, but by 11:30am EST it should be pretty obvious that the YM is not trending and would not be trending until it breaks from it’s range.  It made an attempt to break around 12:30pm EST, but slipped back into it’s range. 

12/04/07 YM Trades

December 4th, 2007

12/04/07 Daily Support and Resistance

Here are the daily support and resistance for the YM, ES, and 6E (Euro futures):

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