Will Dubai Do the Market In?

Posted on 29. Nov, 2009 by JM in Blog

As you know, the YM hit our 10,360 target last
week.  This was a big decision area as it was
the 50% retrace off the March lows.  Anything
can happen at this point.  It looked as if a rally
into the end of the year  was inevitable. 

Then, news that Dubai would  have to delay its debt
payments rocked the markets.  The ES and YM sold off
back down to their daily 13s support. 

Remember last week I said that we would likely be in some
consolidation with a potential spike up or down
that would settle back in the consolidation range.
Well, this is exactly what we have now.  The question
is, which way will they go from here?

Watch to see what market structures set up now in
the ES and YM.  Chances are a breakout of the consolidation
will happen off of one of  these market structure triggers.

On another note, the new ATM Trading System is nearing
completion.  You can check out the demonstration video here:

http://www.scalpersgold.com/products/atm/

Also, if you are struggling with cutting your losses short and
letting your profits run then check out the Scalper’s Gold
Trading System here:

http://www.scalpersgold.com/products/scalpersgold/

To Your Trading Success.

JM

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