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The MEJT System: A New Tool for Day Trading the S 500 Index by Jeffrey Tennant

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5. The MEJT+3 or MEJT+4 Buy or Sell Signal

There once was a girl who had a cute curl,

Right in the middle of her forehead,

When she was good, she was very, very good,

And when she was bad she was horrid.

The girl from that nursery rhyme could have been the MEJT+3 or MEJT+4 buy or sell signal.

This signal works far more often than it fails, but it fails more often than the other signals in this book. When it fails it can fail badly. I personally use it either to exit a trade I am in or to time a trade in the direction I was intending to go anyway.

The rules for this signal are as follows:

  • The MEJT sequence signals that S&P 500 must trade outside the range of the reference bar.
  • On either the MEJT+3 or MEJT+4 bar the market does trade ...

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