Within the Confines of a Larger Range
07/15/2015 7:00 am EST
In this video, Christopher Terry, of iMarketsLive.com, illustrates how the S&P E-mini Futures are forming a Bat pattern on the 120-min chart, explains the differences between Harmonic patterns, and points out that the market is now is a zone for a potential short opportunity.
This week, the S&P E-mini Futures are forming a Bat pattern on the 120-min chart and the market is in the zone for a potential short opportunity. From the impulse leg down, traders can see by the first key retracement where the next pattern can be. Chris explains the difference between the Bat pattern and the Gartley pattern, points out the zone to watch for shorting opportunities off any kind of bounce on an intraday level, and where to put risk if a trader is looking at the chart on a higher time frame.
By Christopher Terry, Contributor, iMarketsLive.com