In the last trading hour, can we identify a trading bias on this First trading Day of the Month? After pushing higher it seems we will not get a bullish bias. In fact historically only 1 of 3 Long Futures Indices trades has been a winner in a scenario like this.
Opening Gap Direction - UP
Market Status - Futures Indices have gained some strength and consolidating
Instrument - ES, NQ, YM, RTY
Trading SetUp - Time Based Entry
Market Trend - Above the 200 Day Moving Average (200MA) and setting a new 10 Day Moving Average (10MA)
Trade Type - Long
Entry - 3:00 am ET
Exit - 4:15 pm ET (Market Close)