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Futures Trading Room – Overnight Overview of Febrary the 3rd 2016

February 4, 2016

Here is what I sent to subscribers last night:

There are no old patterns triggering for tonight.
But as usual, I went through the charts. Today is the second time in a row we see the opening price in the top of the intraday range (intraday High – intraday Low).
If this condition hold through today’s close, I’ll do the following:

Today’s close is in the 10% lowest part of today’s intraday range – I enter LONG

Today’s close is NOT in the 10% lowest part of today’s intraday range – I enter SHORT.

Note: Stop loss = 24 ES or Emini futures points.
Despite what I described above showed interesting odds, we are in a wild market environment, and I don’t have old patterns to confirm these new ones.
Don’t morgage the house on this trade. 

I closed the trade with a small profit, SPY gapped down 0,3%. It has been a wild night in both sides but at the end the bearish edge won the game.

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  1. William Rowland permalink

    IF I wanted to start with 1 contract how much funding do you recommend  5k,10k ? Thanks


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