Trade Dow Jones in 5 minutes Chart
Sometimes before the New York session, you can find good entries. Using Warp predictive software always is easy to find the correct areas where the market could give you good profits. Always study and know the market you trade, not all the instruments have the same behavior.
One of my favorites is the Dow Jones, I trade the instrument 3 years ago daily, and today I validate a 5 minute entry. I wait until the candle closes under the 120 EMA.
I open a trade with 4 contracts with a sell limit order. That means that after the big blue candle closes, I put the sell order limit at 50% of it. I want that the price reaches my limit order in a pullback. Note that my stop loss is above the candle that crosses the 120 ema 20 minutes before.
I cover my 2 first positions and move my stop loss at the point of break even. My idea is to hold my positions until the next timestamp. (8:35 am), or reach the orange dotted line, that I identify as a big support. You can include any technique to warp software! I like price action.
In a big movement during the opening New York session my level was reached, and closed my last two positions.
I closed the day with $670, almost before the opening, that its ok for me
Juan Fernando Vega
Spanish – Support