Futures Trading Room – Overnight Overview of May the 4th 2016
This is the alert I sent to subscribers:
If SPY close below yesterday’s close at 206,16 the following patterns will trigger:
LONG PATTERNS 84-95-107-164-173-178-213-217-292-293-296-297-298-320-339-390 (PRICE-RSI-VIX)
If that happens, I will enter LONG.
Notes:
Stop Loss = 27 Emini points
Profit Factor = 18,5
Calendar Seasonality is neutral.
The ODDS MAP for 16 long patterns triggering highlights good profit factor above 2 and % of winnings above 65%:
enough to take the trade.
It could have been better: futures retraced more than half of the gain before I exited the trade as usual. Small profit is better than loss, as it’s impossible to forecast the high of the night.