Here is a unique bias that takes place regularly on the last trading day of the month as we approach the end of day (cash close).
Day - Friday
Opening Gap Direction - Down
Market Status - Moving to the downside most of the day
Instrument - ES, RTY, NQ, YM
Trading SetUp - Long
Market Trend - Weak Bull
Trade Type - Intraday Entry
Entry - 4:00 pm ET
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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