I think this correction has a little longer to go. My system has a high probability of today closing lower than yesterday. This works best for the $RUT I use IWM as the proxy. I base all of my trades off of the probabilities this system gives. Usually on days like this I will take some speculative trades. It helps when we got the higher open. Going forward and my time frame is usually one day. I have a one day bounce coming which either starts late today or early Monday. My preference would be a gap down Monday or a higher open that retests today's low then moves higher. I am expecting a better bounce midweek. It is of course opex.
2 replies to this topic
Posted 10 February 2018 - 12:23 AM
I did not execute properly today. My system had 2 probabilities today. One was a decline that closed below yesterday's low and another that ended with a hammer candlestick closing near the open. My returns were good for the day but could have been great.