More backtesting on this.
Weds last week: opened just below the overnight 50 and hit it in the first minute and eventually retraced to it after a breakout at 11.55 am (5 min candle):
Tuesday (11/22) last week, just missed the 50 by a tick, but was very close. Short off open targeting the 50 was the trade despite the gap up. Got to the 50 in about 10 minutes (2nd 5 min candle).
Monday last week - pop off open and then retrace to the o/n 50 in six minutes. That would have been a little harder of a trade than the rest, but now we have gone back a full trading week and it’s hit the 50 every time. I know on Friday the 18, it did it as well as Thursday the 17th. So from 11/17 to 11/30, the overnight 50 retraced during RTH every single time. The longest it took to get there was one hour. Most times it gets there within the first 15 minutes.
No comments:
Post a Comment