Dow Jones Futures End Of Day Sell Trigger EntryA counter trend sell setup has just triggered for me and I entered in 15 minutes before Friday's close and got filled at 43,544. If you want to take this same setup, you can enter in on Sunday's open at whatever price you may get filled at.
The reasoning behind this trade?
Daily Timeframe Entry
1. A breakout of the 42,000 support area marked as Structural Support
2. A move higher, pause, move higher, another pause and a 1,2,3 with Friday being a small doji. This will signify a move that is coming.
3. The target is the move back into support as price is extended away at the moment.
Tuesday, October 8th's low is suspended above the structural support zone and ripe for its low to be taken.
My stop is 200 ticks at 43,744
My target is the support zone of about 1350 ticks or 42,050-42,100 area for a 7 to 1 trade.
Price may well go back to 41,300 area as I think it might but I will cut the trade at 42,050 area and see what happens next. A 7 to 1 is still phenomenal in my eyes.
Summary:
I am already filled prior to market close on Friday, 10/18 at 43,544
My stop is 200 ticks at 43,744
My target right now is sitting at 42,078
This is an End of Day setup and I expect it to take anywhere from a couple of days to a couple of weeks.
