DOW JONES (Emini-YM)
There are sometimes when the opening could be messy like today in the Emini Dow Jones.
Based on the indicator setup you have for your Warp predictive software you will have more or less number of printed dots.
I open trades in 1-minute charts always. Check the 8:28 timestamp in the chart below 2 minutes before the opening. As you read in my articles, I don’t like to open trades before the opening bell. Sometimes I do but based on the previous analysis I take the risk. This time stamp forms a pattern 5 when the candle closes at minute 28, I just wait, the price bounces on the 120 EMA of 3 minutes (Grey one) at minute 33. The price goes back to the last high (8:09 Time stamp), but never cross that high, So I think, when the price crosses the 120 EMA (Turns blue) I take the short. At minute 37 is the first try, you could open a trade there. When the market seems to be messy, I like to wait a second attempt, so, in the candle of the minute 36, I open the trade.
Now be aware of the timestamp at 8:45, if the price continues going lower, and time finishes, creating a lower low, a pattern 4 will be created. For that reason, I take partial profits (2 contracts).
For the last contract I move my stop loss at point of breakeven, and leave it, I want to see if I can reach the next timestamp (9:02)
As expected, the price reverses, and take me out.
Juan Fernando Vega
Spanish – Support