120 min and 195 min finally kicked in. But as I've been saying
in high volatility I like the 60 min for early entries then if you
wish to give more room after the bigger time frames kick in like
120 min or 1/2 day, use those for exit or some combo.
the daily and weekly trend systems will in cash most of the
time, which is why I've been showing these faster time frames.
The 60 min went long on Wed
otherwise as far as the market I think this move off the lows is
some sort of wave A. Once complete we'll see a probably 150 or 200
SPX point pullback as wave B, then up again in C
Posted by kevindeng0727 on 24th of Jun 2022 at 02:01 pm
Maybe Pullback till next week Wednesday/Thursday? And C into
July. They say if you are short into independence day, you are a
communist and don't deserve freedom
I didn't realize the QE 3 for ES system was a communist LOL -
it's looking to enter a 1st entry short today - my guess based off
the charts is that it's early and may require 2nd entry before
getting that reversion to mean pullback
I just sent out an email update on the SPY and ES systems
So if that short triggers a 1st entry on the ES side of things
(doesn't look like it will trigger on SPY we'll have
- 1st and 2nd entry long on SPY from bear long
- 1st and 2nd entry long on ES/MES from bear long
- 1st entry short on ES/MES from QE 3
for the ES/MES side of things how would one do that? multiple
ways:
1. you would have 3 contracts long the Sept contract (1 for 1st
entry and 2 for 2nd entry bear long), and you could short a Dec
contract.
2. You could treat it as pure math and to me this is the
simplest way: you are long 3 ES or MES contracts from the Bear long
- so one of the systems taking a 1st entry 1 contract short - you
would simple sell one of the open 3 contracts and have 2 left open
- (3 long 1 short = 2 net long contracts) you are still net
long 2 contracts instead of 3. Then when the short system covers
you buy back one contract - again it's just pure math like adding
positive and negative numbers
Great posting Matt. I have not previously tried the later expiry
option as yet(Dec short). my approach has always been to treat them
totally different and to take a short on either NQ or YM and leave
the ES to run but am quite excited to have a look at the later
month short.
yeah while that's one option to use a higher expiration contract
i.e. in this case Sept futures vs Dec futures, I think it's easier
to treat it by simple math. The short will trigger today so with
the longs you have
3ES + -1ES = 2 ES net long until one of the systems closed out -
math is easy
Matt, I know you do not have a crystal ball, but should we be
looking for wave A to possibly end at the top of the gap on
SPX (3900ish) or just below or above that since everyone is eying
that level?
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KISS trend update
Posted by matt on 24th of Jun 2022 at 01:43 pm
120 min and 195 min finally kicked in. But as I've been saying in high volatility I like the 60 min for early entries then if you wish to give more room after the bigger time frames kick in like 120 min or 1/2 day, use those for exit or some combo.
the daily and weekly trend systems will in cash most of the time, which is why I've been showing these faster time frames. The 60 min went long on Wed
otherwise as far as the market I think this move off the lows is some sort of wave A. Once complete we'll see a probably 150 or 200 SPX point pullback as wave B, then up again in C
Maybe Pullback till next week
Posted by kevindeng0727 on 24th of Jun 2022 at 02:01 pm
Maybe Pullback till next week Wednesday/Thursday? And C into July. They say if you are short into independence day, you are a communist and don't deserve freedom
I didn't realize the QE
Posted by matt on 24th of Jun 2022 at 02:07 pm
I didn't realize the QE 3 for ES system was a communist LOL - it's looking to enter a 1st entry short today - my guess based off the charts is that it's early and may require 2nd entry before getting that reversion to mean pullback
I just sent out an
Posted by matt on 24th of Jun 2022 at 02:14 pm
I just sent out an email update on the SPY and ES systems
So if that short triggers a 1st entry on the ES side of things (doesn't look like it will trigger on SPY we'll have
- 1st and 2nd entry long on SPY from bear long
- 1st and 2nd entry long on ES/MES from bear long
- 1st entry short on ES/MES from QE 3
for the ES/MES side of things how would one do that? multiple ways:
1. you would have 3 contracts long the Sept contract (1 for 1st entry and 2 for 2nd entry bear long), and you could short a Dec contract.
2. You could treat it as pure math and to me this is the simplest way: you are long 3 ES or MES contracts from the Bear long - so one of the systems taking a 1st entry 1 contract short - you would simple sell one of the open 3 contracts and have 2 left open - (3 long 1 short = 2 net long contracts) you are still net long 2 contracts instead of 3. Then when the short system covers you buy back one contract - again it's just pure math like adding positive and negative numbers
Great posting Matt. I have
Posted by mundy on 24th of Jun 2022 at 03:31 pm
Great posting Matt. I have not previously tried the later expiry option as yet(Dec short). my approach has always been to treat them totally different and to take a short on either NQ or YM and leave the ES to run but am quite excited to have a look at the later month short.
yeah while that's one option
Posted by matt on 24th of Jun 2022 at 03:43 pm
yeah while that's one option to use a higher expiration contract i.e. in this case Sept futures vs Dec futures, I think it's easier to treat it by simple math. The short will trigger today so with the longs you have
3ES + -1ES = 2 ES net long until one of the systems closed out - math is easy
I like this strategy keep
Posted by srusso1 on 24th of Jun 2022 at 03:57 pm
I like this strategy keep in mind for when I have more money to trade
Yip, nice
Posted by tsurplus on 24th of Jun 2022 at 02:18 pm
Yip, nice
Matt, I know you do
Posted by DK on 24th of Jun 2022 at 01:46 pm
Matt, I know you do not have a crystal ball, but should we be looking for wave A to possibly end at the top of the gap on SPX (3900ish) or just below or above that since everyone is eying that level?