fibwizard 10:34 am on Wednesday, January 25, 2017
Tags: Futures ( 85 )

Futures Trade

ES trade
On the bounce at the 61% Fib retrace, went long 5 contacts at 2288..( 10:51am), exited my trade as ES paused at the 2292 for a 4 point ES gain..
4 points x 250 per point…

optionshane 10:44 am on Wednesday, January 25, 2017

Nice trade. What entry signal(s) do you use? I’m assuming the retracement to fib 61% is one, wondering if there are others to confirm the reversal. Thanks.
- fibwizard 11:01 am on Wednesday, January 25, 2017
  
  Shane,
  I rarely trade the ES, unless the fib setup is present..I let it open and run..I know it trades 1 or 2 pivot lines..thats just how it behaves..the futures guys trade pivot lines ..after the opening run up, I draw a fib line..I noted that the first pullback hit the 61% line..then moved on up to the pivot..when the 2nd pullback hit that line, and TTM_Wave went green, I entered my long..when ES stalled and paused at 2292, near the top pivot, I exited, since the top earlier was that pivot line..
  
  My trade methods are a combo of price charts, Fib Levels, Pivot moves, indicators, and knowing how ES/YM/SPX behaves..