Day Trading Tools Oil Trading – Forex Trading- Emini Trading Weekly Analysis 5/31/2011

In this video, using our day trading tools, we look at strategies for oil trading, forex trading and Emini Trading to identify key areas of support and resistance in the market along with trade set-ups and chart patterns.

Oil Trading – Last week we looked at a 123 formation trendline break, followed by a series of higher lows forming a cluster for a ping-pong break up set up. Now we are looking for it to hold 1010/30 area and fill the space between the zones long for a right shoulder of a head and shoulders chart pattern

Dow Jones – Big picture to help with trading the emini S&P500. In Sept we had a dash cross-recross set-up which resulted in a dash to dash long. Now it keeps holding 1245 area which is creating a cross-recross of 1260 back up into space for a long to the 1300 area.

Emini Trading S&P500 – looking for 4450 to hold to retest highs. But if we recross back below 4450 looking for short target to 36, and if that breaks then look for retest of 1300 area cluster.

Euro Forex Trading – It is currently holding the trendline break up and dash support at 43 for potential right shoulder of head and shoulder at 45/46 area. No short trade until it goes back below 43.

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