Hi folks, we continue to track the ES: The 2086 gap has filled, price bounced back off the dotted mid-line. We expect the 2040 gap to close at some point (obviousy), but before that, the 2116 gap from last Thursday is likely to get filled, paving the way for a move to the 2000 area (which would be a 38% retracement from the high). To start, let's see if price can spend some 'quality time' above the dotted mid-line of 2083.
Whatever's in the cards for next week, cover your backs and the front will take of itself. Mindful trading to all!
Evidence-based directional trading
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Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
Remek! Trading Systems
Evidence-based directional trading
Remek! Trading Systems, Inc. (Toronto, Canada) specializes in providing trading system development, testing and consulting services to traders worldwide. Remek! Momentum Pro, our self-adapting trading algorithm is designed to trade the re-emergence of momentum out of consolidation areas. For more information, visit www.remek.ca
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