Emini future trading with the opening range. Part 2
Emini future trading is an excellent way to implement many different emini trading systems. The opening range trading is one of those systems for emini day trading.
After reviewing the first part of the opening range emini trading system (click if you missed it). We are now going to check and explore what happens when the Market opens below the previous day's value area, we will also check the rules for this strategy used in emini future trading and commodities trading:
If the Market opens below the value area while emini future trading:
On a typical emini future trading day like in the chart above You can see (click to enlarge) that the Market opened below the previous day's value area giving a sell signal alert, it also broke the low of the opening range, which is our trigger to enter short.
The stops-loss is set right above the opening range high and the profit target is 2.25 points for the emini s p, 12 ticks for the Nasdaq 100 and 12 ticks for the 10-Year Notes. (I talk more about this later on)
Other days while you are emini futures trading something like the chart above could happen. As you can see the Market might "hang around" for a while after the opening range is broken to the downside signaling an entry, this is totally normal, just respect the stop losses.
In this case the high of the opening range is broken but the stop-loss is not triggered, that is why we put our stop loss a few ticks away from the High.
When you are emini future trading also consider that many times the high and low of the opening range serve as support and resistance for the remaining of the day, like in the day of this trade.
Ok my dear friend now let's talk about the…
Rules for emini future trading the opening range:
- E-Mini S&P 500
- E-Mini NASDAQ 100
- T-Bonds and Notes:
OK my friend now that we know the rules, there are additional consideration that we should consider for emini future trading the opening range.
Click to check those considerations while emini future trading the opening range.
Click to go back to Part one of the opening range emini trading system.
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