A Professional Approach to Trading Futures

[steven46]

And here is the follow up to the previous post

Looking at the right side, you can see profit taking
signaling the end of trade (for the moment at least)
Most of this is automated, in that institutional programs
are activated at +10 pts, or what is (for this time period)
defined as a "measured move".

On the right side, this chart shows the profit taking, followed
the programmed buy orders that occur at the 1st SD band
This isn't coincidence. The programs run independently
and are meant to contain (or to try to contain) price within
the envelope until the open of the next US session.

 

[steven46]

And this will be our final post before sleeping

Price "magnets" for tomorrow above and below
current price on a chart with Daily Candles
The VWAP envelop extends one (1) year.
Twenty period (white) EMA is one of the
downside magnets

Good luck

 

[steven46]

Given the interesting London Open
and the subject of the previous post ("Magnets")
I thought I would post this chart to show how
close we are to a test of the downside Magnet
at 75

Postscript

And we post the actual touch of 75 which happened a minute or
so ago.

As mentioned, we finished trading for the year recently and are
not in the market currently. The entry for this trade would have
been based on our research of previous price action patterns
The WRB (wide range bar) down on the open suggests (to us)
that a further move would be likely. Our standard practice would
have been to wait for the first pullback, then enter short holding
for +10. No magic or secret about this as it is widely known among
professionals. Finally because we trade units of three (3) contracts
we would have left one (1) contract to run.