Author: Mike

YM Shorting Opportunity on Firday, 08/21/15

Friday offered several opportunities for those who trade on Friday.  The YM offered an excellent shorting opportunity at the 9:50-10:10 a.m. time slot.  This trade offered great reward / risk at better than 3 to 1. This is how easy it is to find excellent trading opportunities using nothing but My 3 Simple Trading Rules and […]

Long Trade Setup on YM on Friday 08-14-15

Friday produced a nice trading opportunity to the upside at the 11:00 – 11:15 a.m. time slot for those who trade on Fridays.  This trade would have produced better than a 3:1 reward/risk opportunity using My 3 Simple Trading Rules and no lagging indicators. Setups like this one present themselves almost every trading day.  It simply requires the patience […]

NQ & YM Areas Of Interest

Hi Traders, As I look at my charts on the Dow and Nasdaq emini September contracts for next week, the following price levels are of interest to me: Nasdaq (NQ)” 4674.50 4596.00 4582.00 4564.25 4545.75 4480.00 4438.00   Dow (YM): 18215 17691 17565 17429 17317 16989   I will be considering placing a few trades at […]

Nasdaq Emini September Contract Levels To Watch

For the week of August 10-15, 2015 there are 5 price levels that bear watching in my opinion. These are 4608.75, 4551.75, 4501.75, 4471.50, and 4452.25.  So regardless of what method or system you may be using I believe these 5 price levels are worth monitoring for breakouts, retracements, and possible trend reversals. As usual, please […]

Long Trade-Bullish Engulfing Pattern

Today 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 […]