mcdirt
04-25-2006, 11:06 PM
I scan Matt's list of discrete Futures contracts each day. With all restrictions off, today I got setups for Corn on C-0605, C-0609, C-0612 but not C-0607 (there is a reversal bar but it must miss the Fib clusters or something).
C-0605 is about to roll to C-0607 so not much point in looking there. C-0609 has relatively poor liquidity (4000 traded last night vs 84,000 on C-0607 according to my broker). It's a shame that C-0607 didn't get a setup, less chance of slippage.
However, if you look at the chart of C-067 (the continuous contract), in which C-0607 is actually the front month (on Genesis data at least), then this does have a setup. A quirk of the way the program scans for setups perhaps.
I have seen this happen before so even if you are trading discrete contracts rather than just looking at the continuous contracts, then it pays to check for setups on the continuous contracts anyway.
rgds McDirt
C-0605 is about to roll to C-0607 so not much point in looking there. C-0609 has relatively poor liquidity (4000 traded last night vs 84,000 on C-0607 according to my broker). It's a shame that C-0607 didn't get a setup, less chance of slippage.
However, if you look at the chart of C-067 (the continuous contract), in which C-0607 is actually the front month (on Genesis data at least), then this does have a setup. A quirk of the way the program scans for setups perhaps.
I have seen this happen before so even if you are trading discrete contracts rather than just looking at the continuous contracts, then it pays to check for setups on the continuous contracts anyway.
rgds McDirt