π₯ I'm going to walk you step by step how I used our trading strategy to win big within the last hour trading the emini futures contract. Updating down below to show smaller time frames... β¬οΈ
First off. Used 15 min to identify major structure. I noticed that we were approaching an edge play for a potential double top. Which is a bearish pattern for rejection.
So next what I did was do the time split strategy I spoke about in the last analysis I posted. I wanted to scaled down in time as I am looking to scalp. Top chart is 5 min. Bottom is 10 min
This is the 5 min timeframe, I looked for entry on the red vertical line that i drew for you. I entered because after the green dot everything lined up red. Red doji going for Crossover, 3 red ema dots. I should of got in earlier about 4 candles but this literally took place right as I pulled up the chart to start my trading session, so I had to take the next best option. Now let's pull up both charts to see the correlation
Notice how the 10 min chart on the bottom was a very tight compressed red doji just as the 5 min chart was all closing red rejecting off the double top. I took my short on 10 contracts at 3137.00
Next I let the time tick and play out bleeding red with zero signs of green. I drew the horizontal previous levels that I knew would be good signs if the candles breached.
Around the current price I started noticing that the price ticker was getting a lot of hesitation with chop at a certain level so in my mind I knew I was up good and that I did not want this to pull back hard so I took my exit at 3129.75. It did eventually drop through for another good 10 points. But it's all good! If I would of stuck to the key sign and waited for some green I could of got those points. Sometimes your gut just tells you to hop out and take profit. I'm not complaining. π°π°π°ππβ
Now you can see that the 5 min top ema dot indicator is starting to show some green and compression on the candle. That is a very strong key for take profit especially in a scalp position.
I am talking about your main graph, not the dots.
Thanks!