Futures Trading Room – Overnight Overview of January the 7th 2016
Below there’s the alert I sent yesterday:
If SPY closes below today’s open at 195,33 the following patterns will trigger:
LONG PATTERNS 95-199-213-313-329-330 (VOLUME-PRICE)
Note: Markets have crashed five out of six recent nights. Odds are calling a long pullback night. Seasonality is looking strongly bullish too.
Today is January, the 4th trading day and it’s Thurday: 5 out of 6 nights up looking at the last 22 years.
For all these reasons, I will enter LONG if the patterns above trigger.
The night showed a good long bias. The trade could have been excellent with a large take profit order. Anyway, I closed the trade as usual two minutes before the open with a 10,64% and 15,2% of gain in my two accounts. I’m writing now an article on the use of take profits instead of the normal exit. It will be posted soon!
Marco Simioni
NIGHTLY PATTERNS - Overnight Trading 