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Taylor Trading Technique (TTT)

  #12 (permalink)

Bromont,QC
 
Trading Experience: Intermediate
Platform: NT,TS,Esignal
Broker/Data: Kinetick and AMP futures
Favorite Futures: US Index Futures
 
richbois's Avatar
 
Posts: 35 since Sep 2009
Thanks: 2 given, 25 received

Buy Day 9/15

Today is a Buy day and as mentioned earlier we were to expect a Decline. Yesterday the SS day close on the highs, therefore the decline was not started. In cases like that then we expect a test of these highs before the decline starts.
We also know that ES has a 93% chance of having a Decline on Buy days, even if the Decline is as small as 1 tick. So based on that information it was appropriate to find any excuse to short at or near the open. In the case of ES I had fib at 1047.66 which provided a good entry area for shorts.
In bullish markets, declines can easily be smaller than average and this morning was no exception. Markets retraced 50% and the rally started.
Please feel free to ask questions and I will drop in from time to time to answer them
Thank you for inviting me to join this thread.

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