Emini S&P: Another Setup For A Rebound

Another setup to trade another intraday rebound on Monday. After a performance not exactly exciting in 2009, this system has started a little better this year. It has traded already 8 times in January (6 winners and 2 losers).

Last trade on Thursday was good. This system is on the daily time frame. It is a contrarian system. It enters at the close and sell with a profit target the next day. If it is not filled it sells again with a profit target the day after. It has good results. The downside is that if the market is very directional and does not print rebounds it can take some bad hits (you need to have stop loss).