Midas Analysis

Trading and Technical Analysis with MIDAS

Some Basic MIDAS Curves

Here’s an intraday chart of TF (Russell 2000 futures)…

 

The first curve is launched from the top of the swing high, about an hour before opening, giving us a resistance.  After falling for the next 45 mins, price does a retest and comes back to the MIDAS curve.  The retest price comes to the MIDAS curve perfectly (not even a tick off)!  Price then falls 10 points.  If you caught this trade, it’s time to call it a day.

 

Launching a new curve from the swing low, we get a new support curve.  Price returns to the MIDAS R curve twice, but we see some porosity, as it slips through about 5 ticks, before reversing. On the S side, we also see some porosity as price bounces 3 times from S curve.

 

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