2) You can see that we opened between the levels. At this point we're expecting a test of either the support level or the resistance level. At those levels the plan is to use the eMiniDayTrader software to monitor for acceptance or rejection and also to trigger high probability trades.
3) Early in the day price tests the expected support level. At that time our software gives us evidence of rejection (which you will learn to see) and then actually triggers a long trade at point A..
4) At this point, because price was rejected at the expected support level, the expectation is for price to test the resistance level. It does, which is a great place for profit taking (Point B).
5) We're looking for either rejection or acceptance at this level now. This will give us the bias for either continuation higher or a retest of the earlier support.
6) We see that the resistance held and at Point C the software triggers a short trade.
7) This is a great trade, which point D being a great area to take profits if you haven't already taken them.
8) On this test of the expected support level we see acceptance below (you will learn our simple technique for judging acceptance).
9) From this point on, our bias is for continuation lower, which does occur. In fact, several quality short trades were actually triggered for quick profits toward the end of this day.
