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Home / Futures Blog / Today’s TTT Sell Short day for the eMini SP Futures

Today’s TTT Sell Short day for the eMini SP Futures

October 6, 2014 by Scott Hoffman

Today the eMini S&P futures are on the Sell Short day of the Taylor Trading Technique cycle. The TTT is all about anticipating trend changes; when we are able to anticipate market turns we can more easily identify trade opportunities.

Stock index futures rallied on Thursday and Friday. The eMini S&P futures made a bottom and rallied on Thursday, the Buy day of the Taylor Trading Technique cycle (I wrote a post about that HERE.) Friday saw upside follow through on the Sell day of the TTT cycle. This meant we would look for a TTT Sell Short day for today.

ESZ daily Oct 6

There was still more rally last night as the Dec. eMini S&P futures made an overnight high of 1970.50. I usually wait to trade the stock index futures after the 8:30 AM pit and stock market open. Overnight highs and lows are often valuable “reference prices” for Taylor Trading Technique trades, as the day session often retests intraday highs and lows; failure to move through these levels are often TTT trade signals.

That’s what I was looking for when I wrote this morning’s watch list for Swing Trader’s Insight (read that HERE). I wrote that we should watch the 1970.50 overnight high as a reference price; a failed attempt to rally above there (if it occurred) would be a trigger for an aggressive TTT Sell Short day entry.

The eMinis made that rally right after the 8:30 open, and traded around that level until around 8:50, when they began to sell off. This was the first opportunity to short it, as this was the rally failure we were looking for. The initial stop loss went above the session high of 1971.00- I like to use a stop of 6.00 to 8.00 for the eMini S&P.

The downside momentum increased as the morning went on; the “standard” Taylor Trading Technique Sell Short day level of 1964.50 (previous session high) was hit around 9:20 AM. The session low of 1959.25 was made just before 10 AM; a one tick low of 1959.00 made around 10:25 AM could have been a signal to take some profits if you were so inclined.

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Essential Guide for Futures Swing Trading

In this guide, experienced trader and broker Scott Hoffman explains the trading methods he uses to analyze and trade the futures markets and to publish his trade advisory, Swing Trader’s Insight.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Swing Trader's Insight

About Scott Hoffman

Scott graduated from the University of Chicago in 1986 with a degree in Economics. After graduation, Scott worked on the floor of the Chicago Mercantile Exchange then moved upstairs, serving as the personal broker to a former chairman of the Chicago Board of Trade. There, he worked as a broker and margin manager, starting up the firm’s full service brokerage division.

Today, Scott serves as an educator and mentor for new traders, and as a trading partner and ally for experienced traders. The breadth and depth of Scott’s knowledge make him the “go to guy” for both retail and institutional traders.

Scott also publishes two futures advisories, Swing Trader’s Insight and Trade or Fade. He also writes the futures trading blog at www.futuresinsightblog.com. Scott has written articles for a number of futures publications and has done numerous futures trading seminars, including seminars for both the CBOT and CME.

Scott offers his customers the knowledge he has gained from his more than 25 years of experience in the futures business. Scott is accepting new clients at this time.

Scott lives in suburban Chicago with his wife and three children. In his free time he enjoys coaching his children’s sports and various other athletic activities.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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