HighRev wrote:Amazing. The IMF news came across the wire just minutes after the /es hit its 50% retrace of the move off of its Oct. 4th low to the tick!
Well planed wouldn't you say..This happens quite a bit.
I see a low risk trade in 5 min- chart if the candle we are in now closed in red and ES moved above it then I will go long with stop 1188.00 and the target will be not less than 5 points .... bottom line, any red candle in 5 -min that appears now and market go above it by one tick is a buy for scalping or even swing trade in my view ... this kind of trade I use because risk/ reward ratio is fantastic ( it is not a recommendation for any one, just wanted to point it out )
Dow Trader wrote:I see a low risk trade in 5 min- chart if the candle we are in now closed in red and ES moved above it then I will go long with stop 1188.00 and the target will be not less than 5 points .... bottom line, any red candle in 5 -min that appears now and market go above it by one tick is a buy for scalping or even swing trade in my view ... this kind of trade I use because risk/ reward ratio is fantastic ( it is not a recommendation for any one, just wanted to point it out )
volume surge, biggest bar, so hopefully a rebound here. maintain the plan. the pullback is much larger than I thought though, so this rebound may not make a higher high.
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modified plan. may not make a higher high. I'm not sure about the plan anymore.
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Dow Trader wrote:no trade yet but I have a buy stop at 1191.25 and waiting for adjustment
You're talking about spx or /es
ES
So we need a green bar that has a low above 1190.25 correct? I'm confused about this low risk setup. Can you draw up something? Thanks much.
all I want is price to one tick above the last red candle in the 5-min chart .. so far it is 1190.50 unless the candle that is working now became a red candle then I will lower my buy stop