The Pro bars (above average trade size) on the 4,500 tick chart will really show you the way. Today they sold the Open and then re-shorted when we tested the Opening high. The downside move wasn’t over until the Pros stepped in again to take profits at 12:30pm.
On the image below the Professionals are shown with blue bars, using the Better Pro Am indicator.
- At the Open (vertical yellow dotted line), the Professionals are anxious to Short it and their large sell orders drive the Emini down.
- Then when we re-test the Opening High, the Professional sell orders are triggered as the Emini comes back up – so they’re Shorting on up bars.
- Then the opposite happens when the Emini sells off and approaches the Professional profit taking levels – so they’re Closing out their Shorts on down bars.
Good luck with your Emini trading this week.