Hi Everybody,
Wow, the good trades just keep on coming. But seriously, this is a direct response of the cyclical nature of trading and because we had such a few hard days at the end of last week. The cycle has now turned and we are in the 3rd straight good day on the US e-minis.
I would like start today with one for the Advanced Traders among you, and was call I made in my Sales Webinar yesterday. This was a “Gap open” play. I have shown this before, where we look for a reversal at the DP just after a gap open. The target is then the opposing DP level.
As you can see, the ES behaved perfectly gapping up into the DP, then reversing, entering a new short trade, then promptly falling into the opposing DP for a nice +3.3R Profit (ignoring slippage and commission) – perfect, especially as this was called “at the time” in my webinar.
Thanks
Steve
Wow, the good trades just keep on coming. But seriously, this is a direct response of the cyclical nature of trading and because we had such a few hard days at the end of last week. The cycle has now turned and we are in the 3rd straight good day on the US e-minis.
I would like start today with one for the Advanced Traders among you, and was call I made in my Sales Webinar yesterday. This was a “Gap open” play. I have shown this before, where we look for a reversal at the DP just after a gap open. The target is then the opposing DP level.
As you can see, the ES behaved perfectly gapping up into the DP, then reversing, entering a new short trade, then promptly falling into the opposing DP for a nice +3.3R Profit (ignoring slippage and commission) – perfect, especially as this was called “at the time” in my webinar.
Thanks
Steve
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