We are looking for a quick low risk day trade on the ES, E-Mini SP500 futures. It is a countertrend trade since we are now over sold.
Below is a chart. It shows a pull back trade with an entry of 1340.71, initial stop of 1339.45, and a PRESERVE mode value of 1347.42. At preserve mode,we will tighten our stop to protect our profits. Until we get to PRESERVE mode, we use a trailing stop.
EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose