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:
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.
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