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| When is the Hourly Close? |
The S&P e-mini futures market opens at 8:30 Chicago time. Each market hour is every 60 minutes from the market open.
Example: The first hour is 8:30 AM (CST) to 9:30 AM (CST). The second hour is 9:30 AM to 10:30 AM and so on. |
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| Why is the Hourly Close important to Messenger Pro? |
| The price at which the market closes each hour is important in relation to its price activity during the hour. This relationship remains important with regard to longer and shorter term time frames, as well. Messenger Pro automatically keeps track of these ongoing relationships. |
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| What is the chart time frame I should be looking at? |
| Any chart time frame from 5 minute to 60 minute can be used when taking suggested trades and forecasts from Messenger Pro. |
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| What are other ways to utilize S&P Messenger Pro besides the suggested entries and exits? |
1: If $1450.00 is listed as more important support, a trader could buy at or near $1450.00, either upon price simply touching $1450.00 (aggressive entry), or upon a touch and hourly close above $1450.00 (less aggressive). A price target ½ the distance between $1450.00 and the next higher target noted in the panel (for example, $1458.00) could be used as a final conservative exit (target $1454.00).
2: If initial support was $1458.00, with $1450.00 as more important support (as shown in the panel), a short trade could be taken either upon a break of $1458.00 (aggressive entry), or a break and hourly close below $1458.00 (less aggressive). Again, ½ the distance between $1458.00 and $1450.00 could be an initial target ($1454.00), with $1450.00 as the final aggressive downside target.
The same suggestions hold true when dealing with both initial and more important resistance, as shown in the panel.
3: The Turning Point Calendar forecasts specific dates for upcoming market tops and bottoms. As these dates occur, watch how the market acts at the more important support or resistance noted in the panel. The market will often test and fail at those levels (in the case of a forecast market top) and begin a multi-day decline. Profits can be taken at the initial, and deeper support levels shown in the panel each day the position remains active. |
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