Back to the Futures!!! Hello everyone and welcome to THEFREEDOMGRIND, your source for market information and Day trading education!!! Early this morning, there were multiple opportunities to trade the /ES mini – S & P 500 mini. Let’s have a look at the chart and I will describe exactly how the trades went down.
The image above is the /ES mini futures chart from this morning 3/26/2019. This is the 5 min chart from 2AM until 9AM this morning. I want to share with you a very solid trading pattern, and one that I was able to capitalize on this morning. Notice the upward trend right in the middle of the chart. I traded this multiple times with 2 contracts, buying the dips back to the 9 EMA just like I would have done in equities. One thing I want to point out, is that if you look closely at the chart, you will see that I actually did not buy into the first dip! Why is that? I used that first dip, and reversal to validate the upward trend! I bought into the next dip and placed my stop about three ticks below my purchase. My exit strategy – to exit the trade anytime after 4 ticks to the upside has been reached. My average throughout these trades was 5 + ticks. ( a tick is the measurement or increment that futures contracts move up or down, stocks, move in money terms I.E – cents, futures move in ticks.)
As you can see I made several trades based off of the exact same pattern, all worked in my favor.This pattern I have used many times, like anything in the market though, nothing is full proof, but it hasn’t let me down. I hope you enjoyed the in depth recap of these trades, if you have any questions post them in the comments section, we are always interested in your input.
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