Rollover and Friday session 3/12/10

Rollover and Friday session 3/12/10

Posted on 12. Mar, 2010 by in Boomerang Scalp Trader

Good afternoon.

Johnny here for Friday afternoon as the Thursday Rollover to June contracts winds up.  Traders should now be using the June futures contract for ES on Boomerang.

A quick word on Rollover sessions.  It is usually best to avoid trading on the rollover sessions.  The prices shift during the transition and the market can often be riskier to trade on these sessions. Note how we got a very choppy market Thursday and into Friday. That’s rollovers for you.

Daily Directional Forecast has been recommending shorting rallies the last 2 sessions and that has been the way to go.  Prices have been holding back under the general 1150 area with a brief pop up above it today.

Let’s take a look at Todays Boomerang Chart

You can see that there were several crystal clear Boomerang trades following the exact and simple guidelines in our Trading Handbook.

Normally I recommend traders wait for the first 8-10 minutes after the opening to trade. Today was one of those rare exceptions where you could have taken the early break down lower under the opening with the Boomerang signal setting up on the bars and the Force Index.

If you waited that was cool, because another opportunity emerged about 30 minutes later for a 2nd level short on the 1-2-3 pattern discussed here in previous blog posts.

You can see after the 1-2-3 pattern was complete, a Buy signal set up and should have been taken with the usual tight stop automatically placed by your Boomerang/Ninja setup.   This set up was good for up to +2.75.

Remember to take your scalps when you get em. Our goal each day is to just nail 2-3 points on the Boomerang trades which I call Volume blasts or Delta Blasts.  Stack a few trades like that up each day and you will make a good living and beat all the other systems out there.  Run the math and you will see what +4.00 ES points a day average will do.

Have a good weekend and I’ll catch up with you Tuesday.  Johnny

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