NQ + CME +27.00

Nov 4th , 2010

In our members video last night we had a high target on the NQ at 2191.50 and the high was 2191.00 or 2 ticks off. This is why we use the NQ, ES and TF all for targets because one will complete before the other two. Our upper targets are not short entries but we look for either a correction or a contraction off these targets. Today was a good example of a contraction off our targets. The targets are important on multiple levels but with today having the target can tell you that the up move will most likely not continue right after it is hit and that way you are not trying to enter long multiple times.

With the market it is not only knowing the direction but taking it one step further and understanding where that direction might end or at minimum stall out and take a break (go sideways).

You can be right on the direction and still lose money day trading and this is why it is important to get the education to understand how to get odds and how to get the market condition before the condition is in play.

For those of you that went long CME we are moving our stop to $293.50 and if we are stopped we will exit the trade with +$23.50. At the close of today we are up $27.00 points on this trade!!

Happy Trading,

www.eMiniSchool.com