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« Emini Podcast For Tuesday November 13, 2012 | Main | CFRN Emini Radio Holiday Schedule »
Monday
Nov122012

Reflections On An Inside Veterans Day

(QQQ)(FB)(GLD)(SPY)(AMZN)

"As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them." - John Fitzgerald Kennedy

 

Trading The Inside Day

 

The Inside Day is one of many topics we will cover in the Emini Mastermind Course.

The textbook definition of an inside day is:  

A candlestick formation that occurs when the entire daily price range for a given security falls within the price range of the previous day. Inside day often refers to all versions of the harami pattern and can be very useful for spotting changes in the direction of a trend. Source: Investopedia

On today's Live Radio Broadcast, we discussed the Harami Pattern in depth. If you missed the show, click the headphones above or subscribe to our daily podcast via iTunes. The Harami Pattern can appear as either a bullish or bearish indication based on context. As we discussed on the show today this is really a 3 candle pattern. The patterns itself consists of only 2 candles but waiting for the 3rd candle to confirm the move, is in our opinion the best way to trade the Harami.

On an inside day, neither the bulls or bears are able to drive the market above the previous days high or the previous days low. Context is critical so be sure the signal comes after an extended move up or down, otherwise you have nothing more than a continuation signal.

We have written 4 articles in the past with Inside Day as the central theme. If you have not read them, you can visit the posts by clicking the titles below.

The dynamics of the Harami have stood the test of time (400 years). Since an Inside Day is simply the Western World's way of saying Harami, whatever I wrote back then, is still true today. There are very few absolutes in trading but this is one of them. Is it a guarantee? No! Is it a definable high probability set-up? Yes!

Will we learn all 12 Major Signals in the Emini Mastermind Course? Absolutely!

 

Let's see some examples:

 

As you can see, the Harami is simply an inside Day, Week, Month or in the other direction an inside Hour, 30 Minute, 10 Minute, 1 Minute etc... This pattern is not limited to Time Based Charts. You will also find it on Tick Charts, Volume Charts etc... As long as the context is correct and you have a confirmation of the pattern, you have a tradable event.

Here is a recent example:


Bullish Harami SP500 Emini FuturesBullish Harami S&P500 Emini Futures

 

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Once again, the High of the Week and the Low of the Week were marked by a Weekly Trading Zone. To make sure you have your Zones - Apply!

 

 



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