Month: May 2014

ES futures high of day short odds

Based on historical odds, the ES had low odds of closing above the previous high of day. The plan was to take a short on a spike above yesterday’s high. The trade worked out as planned. I exited right before the bounce which at the time felt premature, but turned out to be the perfect exit. My reason for cutting was because I don’t like swift down moves in a strong market.

ESTRADE

 

Advertisements

ES futures high of day short odds

Stats suggested a very low chance of closing above previous day’s highs. So I waited for it spike above it and entered a short. The odds played out exactly today, notice how price closed below the previous high.

es

ESTRADE