The markets triggered an overbought reading yesterday, let's see if that has led to a down day the next session.
Day - Tuesday
Opening Gap Direction - Down
Market Status - After another new high, a down gap is expected
Instrument - ES, RTY, NQ, YM
Trading SetUp - Long / Gap Fade
Market Trend - Bull
Trade Type - Intraday Entry
Entry - 9:30 am ET (Market Open)
Exit - 4:15 pm ET (Market Close)
Note: Most tests/studies here are done going long using Future Indices. This is done for several reasons; so you can easily compare different studies/tests, and because of the high correlation of these Indices to other instruments. The Daily IQ is typically an End of Day analysis without stops/targets. You can use Discover to test/study other potential trades with numerous stop/target values. You can make comments below.
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