An Afternoon Trade Here’s an afternoon trade in the S&Ps (ES) that set up wonderfully today. This is a common pattern we see on trend days. Trend days open at one extreme and close at the other. Today opened on its highs and closed near its lows. Trend days provide excellent trading At times, though, trend days that start in the overnight market seem to die out in … [Read more...]
A Short Study of Volume
A Short Study of Volume Here is a short study of volume in this morning’s S&P futures (ES, e-Mini). We are using the Weis Wave, which aggregates wave volume, and the 3,000 Tick chart, which shows overnight waves well. A: Supply into yesterday’s low, no question about it. B: We break yesterday’s low and selling isn’t strong. Hmmmm …. C: A push down, but all … [Read more...]
Scratch Trade
Scratch Trade Do you scratch trades? By scratching, I don’t mean rubbing your trade aggressively. It’s taking the trade off when things are working out. Usually, we exit the trade in a scratch at or very close to entry. No gain, no loss – a scratch trade. Here’s a good example of a scratch trade from this morning's trading: Example of a Scratch Trade I came into … [Read more...]
