On Sunday and Monday, I released the Futures Market Overview video which reviewed what I expected the futures and forex markets to do this week.  The Sunday video was released before the market opened.  The Monday video, which was a recording of the Annual Members session, was released after the market opening.

Futures Market Overview Results

Basically, in the Market Overview video, I expected the Dax to go to at least 11750.  It did.

I expected the Euro to go to 1.1100.  It did.

With Gold, I expected  retest of the ATR.  It retested the ATR, flipped it but formed a congestion dot, which coincided with a Daily H/L. From there it was all upward action.

I expected the market to spike up then come down for the Dow, ES, and Nasdaq.  It did it on all 3.

Click on the image below to expand the chart to full size.

Futures Market Overview Results

While I could say the indicators worked beautifully, and they did, it takes learning the indicators and market action to identify these potential moves.  I am a firm believer that the market moves off of support and resistance.  Yesterday was a good day to see these concepts play out on the live edge and to understand that we can anticipate what price will do based on where support and resistance is.

For example, Crude had an ATR at $59.72 on the 180 minute timeframe.  The market looked like it would go up.  But notice in the video from Monday’s session (at 7:30 am New York time) I warned traders not to enter a long position because the 180 minute timeframe had an ATR above price.  The ATR is a strong area of support or resistance.  What happened at the market opening?  It went up, tagged the ATR, and then dropped.  This is why we look at the higher timeframes — to make sure there is nothing in the way of the trade.  If we had entered a long position on Crude, there as only about 25 cents of potential movement.  Not a good trade.

But it takes time to learn and apply these concepts on your own even with all the online training sessions, seminars, and even using the same trading indicators as I do for the Futures Market Overview.