A Great (YM – Dow Mini $5) Futures Setup
Hello folks, another update coming to you straight from the Profit Edge Trading Methodology. I had a nice day today watching some of the action in the market on the Dow on the Hourly and 15 Minute charts in the Futures market. As you may or may not know we made an all time intraday low of 6690 today in the Dow Futures that was retested intraday. I zoomed in on the 15 minute chart to see if there was any setups that met the P.E.T Methodology. The following chart shows what action took place:
Several of the combo ocillators lined up to make what I like to call a “Failure Swing.” These setups & pattern recognitions are part of the array of tools used in the Profit Edge Trading Methodology.
Regardless, I took this trade under the trigger rules. I took half the position off at the 34 EMA, which is the green line you see on the chart. The other half was taken off with an aggressive 1 bar trailing stop, near a previous resistance level plotted with the pink horizontal line on the chart.
Profit Edge Trading will teach you how to manage your trade and profit taking effectively. Depending on how aggressive you want to be with your trading plan, there are 4 distinct ways in the Methodology in which we can use stops to our advantage.
Your trading should not be boring or drudging, Profit Edge Trading likes to make trading fun and enjoyable. In our future Trading Room Membership, you will be able to take part in that.
Thanks again for viewing the Profit Edge Trading Blog.
Stay tuned for more great commentary and market action…
Sincerely,
Taz Hardy
CTTO
Profit Edge Trading
