Yes, RSI(5) was below 5% on 15-minute charts and below 10% on
two-hour hour charts. Those numbers seem to reliably point to a
successful reversion-to-the-mean trade. An inverted hammer was a
good trigger. I had a day order at 2084.25 on September, which was
not triggering, so I cancelled the trade. Day orders do strange
things on IB, sometimes they trigger out-of-hours and sometimes
they trigger only during the cash hours. I had a buy stop, I
probably should have used a GTC order.
If you see a similar setup again, please make a note on the
blog. Thank you, Matt!
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Yes, RSI(5) was below 5%
ES 15 min futures
Posted by junkie on 14th of Jun 2015 at 09:46 pm
Yes, RSI(5) was below 5% on 15-minute charts and below 10% on two-hour hour charts. Those numbers seem to reliably point to a successful reversion-to-the-mean trade. An inverted hammer was a good trigger. I had a day order at 2084.25 on September, which was not triggering, so I cancelled the trade. Day orders do strange things on IB, sometimes they trigger out-of-hours and sometimes they trigger only during the cash hours. I had a buy stop, I probably should have used a GTC order.
If you see a similar setup again, please make a note on the blog. Thank you, Matt!