Long Trade-Bullish Engulfing Pattern

08-07-15 Long 1115Today at the 11:00 – 11:15 a.m. time slot there was a nice long trade setup on an engulfing candle on a 233 tick chart. This trade on the Nasdaq emini yielded 7 points of profit while risking less than 3 points. That’s $140 in profit with approximately $50 of risk trading 1 contract.

These are the kinds of trades I look for every day. I simply follow my 3 simple trading rules, use no lagging indicators, and put the profits in the bank!

I don’t normally trade on Friday but today there was some decent movement following the non-farm payroll announcement.