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We started the week with a strong up-trending Monday in equities, crude oil and a strong downtrend in bonds\u00a0which encouraged me to share the following with you on the different types of trading days:<\/div>\n
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- In my opinion there are 3 main types of trading days.<\/li>\n<\/ul>\n<\/div>\n1. The most common day are two sided trading action with swings up and down – this type of trading day is most suitable for using support and resistance levels along with overbought\/oversold indicators.<\/div>\n<\/div>\n2. Strong trending days, mostly one directional – this type of trading day is the least common, many times will happen on Mondays and maybe 3-5 times a month at most – this type of trading day is most suitable for using ADX, MACD crossovers and pretty much looking for pullbacks to jump on the trend.<\/div>\n<\/div>\n3. Slow and\/or choppy trading days – this type of trading day is best suited for taking small profits from the market by looking at volume spikes, using stochastics as possible entry signals and usually wait for a pullback before jumping in.<\/div>\n<\/div>\n
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- A good question I\u2019ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:<\/li>\n<\/ul>\n
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- Was the overnight session a wide, two sided trading range? If the answer is yes, good chances for similar trading day during the primary session (primary session is when the cash\/stock market is open)<\/li>\n
- Mondays have the highest chance for trending days<\/li>\n
- The behavior of the first hour of trading can also suggests the type of action for the rest of the day.<\/li>\n
- If the first 30 minutes of the trading day have good volume, better chances for type 1 or type 2 trading days.<\/li>\n
- Low volume during the first 30 minutes can suggest a choppy (type 3 trading day)<\/li>\n
- Are there other strong trends in other sectors? ( bonds? metals? energies? Dollar index? )<\/li>\n<\/ol>\n<\/div>\n<\/div>\nTrading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.<\/div>\n<\/div>\nDaily 30 yr bonds chart for your review below. I have heard from some clients that they “like the personality of the bonds” better than the ES and NQ. Different dynamics, larger tick size – may be worth your time to follow and try in SIM MODE first.<\/div>\n<\/div>\n
![\"30](\"https:\/\/files.constantcontact.com\/3dc00ef7001\/3efc2ad8-0e0e-4dcc-a789-3cbdc722614c.png\" "\\"30")
<\/div>\n\n<\/div>\n<\/div>\n\nTo access a free trial to the ALGOS shown in the chart along with other tools? (Arrows possible buy\/sell, diamonds = possible exit\/ tighten stops) visit and\u00a0sign up for a free trial\u00a0<\/a>for 21 days with real-time data.<\/div>\n<\/div>\nGood Trading<\/strong><\/h3>\n
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time when it comes to Futures Trading.<\/p>\n
<\/p>\n
Futures Trading Levels<\/strong><\/h3>\n
6-22-2021<\/strong><\/p>\n
<\/div>\n![\"\"](\"https:\/\/files.constantcontact.com\/3dc00ef7001\/e99046c8-7c81-4939-a57a-0203ec38ced4.png\" "\\"\\"")
<\/h3>\nEconomic Reports, source:\u00a0<\/strong><\/h3>\n
- A good question I\u2019ve been asked is how can one asses what type of trading day we will have while the market is still trading….I have been doing some work in finding the answers and will be happy to hear feedback via email but here are some initial observations:<\/li>\n<\/ul>\n
![\"\"](\"https:\/\/files.constantcontact.com\/3dc00ef7001\/4519ac16-6a06-40b8-9a1e-b6269ea42d68.png\" "\\"\\"")
<\/p>\n