Double Red Green Candle Pattern
Noticed something that may interest a few. Put on a 5 min chart of Emini NQ. Now after 9:30 EST watch for a red candle followed by a green candle followed by a red candle followed by a green candle. If you get one or more doji's in between the pattern is still valid. This is a non trending high volume zone. Now place a buy at the lowest price of these four candles and a sell 2 pts above. Let the market take out any one and capture the profit.
Yes now the question of the stop loss. None. If the trade goes against wait for another similiar pattern to emerge atleast after a 10 point drop or rise and addon. Your average entry will fall or rise. Exit trade at 2 pt profit. This technique works well if the buy order is executed before the sell order