Welcome back traders, the /ES has provided many great trading opportunities. With the Fed chairman going dovish we saw a huge push to the long side on the SP 500.
We were able to place a solid trade long the /ES based off of the day chart yesterday. This was a longer term hold position. We sold after the major push upward for $1000 profit.
This green candle was red when we placed our trade for 2 contracts long. As we watched the chart, we could see the price squeeze back above the 9 ema on the daily chart. That is where we placed our long position. For placement of our stop loss we used the 5 min trading chart
In the image above you can see where we placed our stop. The overall profit off of this trade ended up being a little over $1000.
This trade was placed in a paper trading account with TD Ameritrades’ think or swim software.
Anyone can open an account with TD Ameritrade with no deposit requirement. You can also paper trade with think or swim for free for a trial period.