This is a place where we can focus on a specific handful of rules based pattern trading ideas for intra day trades on the Emini futures contracts. All patterns need to have an exact reason for a buy trigger, stop loss and target or targets if using multiple contracts. This will be mostly a review of the days actions to learn how to spot the patterns and recognize the stop loss and profit targets.
The goal it to be patient and wait for a pattern to form, NOT to guess at a pattern and trade in hope that it forms the pattern.
1. Use an ORANGE horizontal line for any suggested entry positions 2. Use a Red line for any suggested stop loss 3. Use a GREEN line for any suggested profit targets.
ABCD pattern. These are the suggested moves for the CD leg based on the pullback of the BC leg BC retracement CD leg .382 2.24 to 2.618 .50 2.0 .618 1.618 .707 1.414 .786 1.27 .886 1.13
Fibonacci Extensions. These are the suggested fib extensions based on the fib retracements Fib retracement Fib extension .23/ .382/ .50/ .618 1.618 .786 1.27 .886 1.18
