Let's see what has happened historically as we approach the close ahead of tomorrow's FOMC announcement.
Day - Tuesday
Opening Gap Direction - Up
Market Status - Trading in the bottom range of yesterday's range
Instrument - ES, NQ, RTY, YM
Trading SetUp - Long
Market Trend - Bull
Trade Type - Time Based Entry
Entry - 3:00 am ET
Exit - 4:15 pm ET (Market Close)
Note: Most tests/studies here are done going long using Future Indices. This is done for several reasons; so you can easily compare different studies/tests, and because of the high correlation of these Indices to other instruments. The Daily IQ is typically an End of Day analysis without stops/targets. You can use Discover to test/study other potential trades with numerous stop/target values. You can make comments below.
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