O|R of CL

other quick day. Big mike thanks for pointing this market out. How are you doing? Have you add other contract?

oh big mike the filter work perfect.

next 30 min O\R too..

next one too..ya baby..sorry for the chest pumping ..i am done for the day...

I don't know how to attach a screen shot, so here is the narrative.
Setup 30M chart, add 3 EMAs (8,13 and 21) When all "line up" for long for yesterday for example (8 above the 13, 13 above the 21 and 30M candle closes, switch to 5M chart and look to go long.

Where? I wait for a lower low, then I take the next higher high. Stop is below the signal candle (the that was broken out by the higher high) usually quite a small stop. Target is 2 points.

4-4-18 yielded 8 trades

7 for plus 2 and one loss @11.55 a breakeven
Times were 11:00 AM, 11:35, 11.55, 12:35, 12:55, 1:40, 2:20 and 3:05 entry candle CT.

Be careful with this one Duck, you will likely want to overtrade. You only a good day every so often, so wait until you know the 30M is in a strong trend. For 4-4 maybe you should wait until after lunch as 30M pull back and then really drives.

Good luck but be careful.

Paper trade for a month or 2 and see how well you identify when to trade.

Always get stopped into a resting order with bracket placed for 2.00 target and 3 point stop. I adjust stop after entry to one tick below my signal candle, if the gets broken my premise is wrong and I'm out.

Originally posted by duck

filter work perfect. mike can you give a little more details on 5 min es scalps..for this caveman real example would be perfect..if not what are stops use ? what order you enter trade with? and exit with? any other details you got


thanks
duck

Just exited my 2nd trade of the evening a moment ago. Once short at 30.00 and once at 31.0

5M trade as referenced above

thanks big mike!! next question when do we switch contracts ? do we go to june contract? anybody can answer if they know.

thanks duck

My (TOS) platform switches automatically.

wow this is smallest 15 min range i seen..got one loss short and still working a long.

nobody got anything to say? even to tell me to shut up will do..lol

loss on long and win on the short..so 3 trades. loss 11 ticks two trades and winning trade 10..

Great Info, Question: On the FTSE100 - what is the index indicator for market direction for the day?, do you know the code?
In Australia for the ASX200 the SPI200 SFE SPI 200 Index Sep '20 (APU20) futures contract is used as a general indicator for market direction for the day - particularly at the open. Is there a similar indicator for the UK market? thanks in advancew.