Hilbert Sine Wave (Emini 27 minutes)
Finally got around to updating my Emini day trading methodology page. The previous version was unclear because it was mixed up with commentary on my swing trading system. Please take a look – there’s also a pdf version if you want to read it later.
Hilbert sine wave and 27 minute Emini chart above. The 27 minute chart is used because there are exactly 15 bars per trading day.
From yesterday’s post “still waiting for an end of trend move in the 27 and 45 minute time frames (ie. final push down)” and Monday’s post “any strong rallies will be sold again and we’re likely to see more trading range activity”.
Well today the rally back to 1,345 got sold and the Emini was pushed down to 1,320 – a previous area of support. I thought the Emini might have dropped further but it started to rally, even before the Hilbert sine wave crosses. In the after market we’re already back up at 1,342.
Which way now? I think we will close the gap at 1,364 – eventually. But I don’t think we’ve spent enough time basing. I can’t believe the Professionals are going to let the Emini run away like that. I’m guessing we’ll have another push down.
Good luck with your Emini trading.