Fear Is Our Friend

We are entering earnings season and combined with a record run in equities, we can expect some big day trading days ahead. There should be an increase of fear now that will give way to some big swings in price. And that's how we profit.

Well we're out of that tight trading range and we will probably see higher prices once we get some back and forth momentum going.

The FRO did a good job keeping us going with the herd.

Three down days on the board above.

The Monthly above looks like we're still headed higher.

The Weekly was trying to tell us we had a pullback coming. And it finally came.

The Daily also gave us a good heads up on the pullback.

The 480 Minute looks pretty frightening. Each candle has a 480 minute duration.

But when we take in the last five months price is still comfortably within an upward channel. Notce what price did after touching the bottom of this channel each time.

And this is my favorite chart. This illustrates the profit potential for today.

Nobody makes this kind of money in a day... unless they know how to read buying and selling pressure.

And that's ALL that matters.

So is there anything more important to learn or know?

WARNING: Futures trading involves extreme risk. Consult with your financial adviser to determine if trading futures is suitable for your situation. These illustrations are for entertainment purposes only and do not represent any guarantee of future performance.
The Last Hope Trader does not offer any financial advice and assumes no responsibility for visitors' financial decisions.