Today I’m going to focus on “set and let” trading. We had a great example of that today on the Dow. We have a micro swarm in the 23615 to 23630 range (highlighted and marked 1). That is our buy zone and the orders placed there were hit. As it stands now we are at 24045 and just over 400 points ahead on the trade. I’ve locked in 200 points now, but we have a swarm target of 24650 over the next few days. Let’s see how we go.
Meanwhile, on the day trade front, we had a simply super day again on the TY and another big day on the NQ with a short and a long trade. We also missed a couple but that really is life. We were looking for a buy in the 6350 – 6370 zone. So we figured we’d be there at some point. We had a buy order in for 6360 and it was hit for the daily trade. It now stands at 6457 (remember this is the CASH NQ). and we are a rather nicely ahead. I’m leaving a wider stop than I would like but I want to give the trade room to breathe as we are in volatile times. We have a 70% chance of heading up to 6630+ They are good odds but remember this is a dangerous time. When in doubt. Bank. No shame in that.
Finally here are our two NQ trades short from 6430 (point 1) and out on a limit at 6380 (point 2). The long at point 3 was taken as we had closed above our 2nd level swam (dark grey) and we had an immediate target of 6413 (point 4).
The “micro swarm ™” at that level held the move for a full 20 minutes before we blasted through it and put ina massive target at 6470. We didn’t believe that we would make it so took profits from a limit order at 6460. We didn’t maximise profits on either trade. But we did book a really nice profit with minimal risk. And ultimately that’s EnigmaSignal. Low risk. High probability trading.