10th September Emini trading – intraday reversal

Hi All,

The markets started off with a market sell off. For those that were able to catch this.. there was a very nice profit to be made.

However, as you know.. I work a 9 to 5 job and come back around 6.30 – 7pm GMT time and can only catch the evening trading session (or the afternoon trading session if you’re looking at it from the US slant)

What I saw was a bounce from the lows and it had already bounced off the 50% Fibonacci level at 145300.. ah ha, I thought. I had missed the crux of the move but I wasn’t too far off so I entered at 144850. The market did drop from here to 144625 before going up again. I was stopped at 145125.

There was another entry though above the 50% level 145300 so a buy at a price or two above this level would have sufficed. If you rode this, you could have got out at 146400 or so for a nice >40 prices.  However, I had arranged for a game of squash so wasn’t able to capitalise.

The market made a nice intraday reversal and stopped short of the open price and then retreated again.

I ended up with a loss of -11!


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Category: Emini futures, Make Me Some Money Ideas, Trading