2 Opportunities on S&P Futures

I got an alarm triggered on the S&P futures last night, Sunday night, and ended up taking two trades around one strong area.

The market initially flushed down and hit my first stop loss, but because it was a strong area, it eventually came back up. I was able to short it the first time, and when it came back again, it passed 6078, returned to it, and acted as support. I took a long position for a profit.

When performing technical analysis, if you identify an area with three strong confirmations, it is likely to be reliable—even if the market initially moves against you and hits your stop loss. Be patient, wait, and use that area as one confirmation while quickly identifying two more to see if the area will hold.

Trading requires patience and the understanding that you won’t win every trade. The market will behave as it always does, and the best you can do is remain calm, disciplined, and patient.