Trade Aptitude
Results of Tuesday’s Best S&P Futures Turning Points: Buying 4130.75 caught the bottom of the session and ran for 18 points to the next level @ 4148.75 (see Quick Tip for details).
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 4109.75 stop 4104.00. Short 4206.50 stop 4212.25.
The World Sentiment Index: (+100/-100) drops from +43 to +29 in a world of mixed Bullish-leaning sentiment.
Catalysts: CPI @ 8:30. Crude Oil Inventories @ 10:30. FOMC Minutes @ 14:00.
Quick Tip: How to Trade This
The turning points offered in this newsletter are from high volume price levels. The expectation, and history, of these levels is for price to reverse when entering and breakout when exiting. Nothing is certain but they’re effective enough of the time to trade.
Looking at the chart you’ll notice the first trade was filled in the Globex session. Enter before bedtime and you’re waking up to a nice winner. The second and third trades were during the day session.
You might be wondering about taking the short trade again after it has already worked in the Globex. In most cases second entries don’t perform as well as first entries so we filter them out. However, the levels were created by high-volume day session traders. This means that regardless of what happens to the price level in the Globex (winner or loser) it remains on the chart for the day session. Levels are only removed once violated in the day session.
Our team day-trades multiple strategies with edge in a live online environment. Typically, our team will have 5+ price levels every day to consider trading. Join the team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!
Trade Fearlessly,
Mike Siewruk