Another Day, Another For Scalping Emini Futures, But Don’t Forget Globex
Anna Coulling | Jun 21, 2019 06:31AM ET
An interesting session following the key Fed meeting a day earlier with the markets anticipating the start of a round of rate cuts, sending equity markets higher and consequent yen selling. However, what is always fascinating about such events, is that by the time the U.S. cash markets open again, all this news has already been absorbed, and this was the case here.
On Globex we had already seen some wonderful moves overnight and through the London session with even paced pricing and little or no volatility in the trend higher. Trading on Globex is straightforward for many reasons, not least that the algos wait for the cash markets to open. And of course best of all volume price analysis works perfectly whether trading on Globex only.
During this session, the bullish momentum had drained away leaving thin market trading conditions across the three Emini indices, with the ES emini in particular showing very low tick values on the Tickspeedometer. In such cases its on to the fastest timeframes which are one of the great advantages of NinjaTrader with seconds charts to complement both tick and renko charts.
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