Did You Keep This Week’s Gains In Your Pocket Today? | Rob Hoffman Trader

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http://www.BecomeABetterTrader.com As we started out in today’s video, we knew right away that today was going to be a capital preservation day. The focus today was taking all the profits that we made from the last several days in the room and holding onto them. We walked in the door with a lot of volatility and so we were drawing this out (on my charts at 1:43). The stock index futures and overnight trade have been violent and volatile back and forth. We had fifteen minute charts coming down, hourly charts coming up, and just a host of problems for this struggling market to reach new highs. So, as we walked in today we also saw things such as crude oil. Crude oil was in the kill zone where we have rising support underneath and falling resistance. Gang, all that means is we are going to whip back and forth there and sure as can be that is exactly what happened with crude. We warned about that. We had short term resistance coming down on top of us but we had hourly support coming underneath. We smacked right into that hourly support this morning and then bounced right off. – See more at: http://robhoffmantrader.com/weeks-gains-pocket-today/

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