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Starting at 1045 EST today the ZoneTraderPro system seamed to be hitting every trading pattern and winning trades. It started with back-to-back-to-back winning TICK Divergence trades. As noted in this blog and in the trading manual, taking trades AFTER a TICK Divergence pattern is probably not a good idea, and this is illustrated in each of the 3 trades. Three trend trades were generated and all three failed. One of the TICK Divergence trades was good for 4.75 points. The next trade was 5 point reversal trade. ZoneTraderPro then calls the top with an Exhaustion / Tick Divergence pattern which was good for 3.5 points.
Then the market enters a series of bearish short trades. There were 4 consecutive winning short trend trading patterns. There was an additional winning short trend trade, however it was filtered out because the TICK Filter had been hit and it occurred after TICK Divergence. So to be consistent with strategy, the trade is not counted. Other TICK Divergence trades were also filtered out when they became non-divergent. Only 1 TICK Divergent trade was a 4 tick loser.
After the series of short trend trades, the TICK Divergence marks the end of the sell off. A second TICK Divergence pattern is a 4.25 point winner. A short trend trade was indicated after the TICK Divergence pattern had setup. When analyzing these setups, there were 6 trading signals after TICK Divergence patterns. Five of those six would have been losers. This is why testing a trading plan is so important. This represents a pattern within a pattern that can only be found with testing (or losing money).
The last two days saw a big sell off in the markets with some great trading setups. Fortunately the increase in volatility did not decrease liquidity. If a decrease in liquidity had happened, you would not see that quality patterns setup on the chart. The e-mini premium would have been all over the chart as in the example below.
To understand more about the e-mini premium read this post here.
Instead the liquidity necessary for proper trading setups was present, and we saw some great pattern trades. The best sequence occurs in the last two hours of Friday, with 3 perfect setups in an hour.
What is also important about these charts is that they look no different than any other trading day. Long trades still have perfect trading setups, and you can find even more trading setups with the short trades also.