Today there was a perfect set-up on the 3 minute S&P e-mini chart. I was triggered short into this trade at 11:21 AM PST. This first chart shows what the set-up looked like. It also illustrates something that you always want to see when you are taking any trade. Much more potential reward than risk.
The next chart shows how the trade played out. The mob was hit at 12:00 noon.
12 points in the S&P in 40 minutes. That is quite a trade!
I looked at this trade but the retracement was past .786. where did you take the retracement from?
Posted by: Bryan Lindgren | April 03, 2008 at 03:11 PM
Looking closer at this trade, you are correct. The retracement was more than .618. Thanks for pointing this out. Though I failed at following my checklist, the trade still illustrates something very important. Having good risk reward for each trade you take. You should always have more potential reward than risk.
Posted by: Joel Stahl | April 07, 2008 at 07:57 AM
any forex trade analysis please
Posted by: amankwa | April 11, 2008 at 12:28 AM