We are testing a rare day when there is a Down Gap following a strong day on an FOMC Announcement. Overnight selling has pushed Future Indices lower. The day likely will end weaker as illustrated with both T-Scores and Win Rates having negative values and where Average Losses exceed Average Wins. See below for the setup and watch the video.
Opening Gap Direction - Down
Market Status - Following the FOMC announcement yesterday, we pushed higher to the close. Overnight trading has given up most of those gains.
Instrument - ES, NQ, YM, RTY
Trading SetUp - Intraday Open with at Gap of at least 50% of the 5 Day ATR
Market Trend - Above the 200 Day Moving Average (200MA)
Trade Type - Long
Entry - 9:30 am ET (Market Open)
Exit - 4:15 pm ET (Market Close)