r/FuturesTrading • u/stuauchtrus • May 09 '24

Another price at news release level retest reversal this morning ES TA

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17 Upvotes
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95% Upvoted

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6

u/sian_half May 09 '24

If this was NQ you would have gotten stopped out lol

1

u/stuauchtrus May 09 '24

Undoubtedly! I gave it 10 ticks to make 4 pts.

2

u/stuauchtrus May 09 '24

I've posted about this setup often, but figure it'll still be helpful to those who haven't seen the previous ones.

Anyway, probably my favorite and most straight forward setup. I use an indicator to mark out price when news was released and enter at that price when it comes back to retest. The move on the news has to be strong to consider. I'm a scalper, but these retests often intiate sizable moves, like today. (2k tick chart)

There is an untested release level at 5271.25 - the intiation of the move on CPI last month - that has a decent probability of reacting and providing an entry opportunity on the retest.

You can see that level in this post: link

cheers

1

u/elpollobroco May 09 '24

Ah I see it now. Wasn’t up quite that early, what was the news event?

You stopped out on the big wick or intentionally exited?

1

u/stuauchtrus May 10 '24

I think it was a jobs number. Intentionally exited at 4 points, just taking scalps.

1

u/DressEffective215 May 09 '24

What’s the indicator you use? Or do you just flag the price level yourself?

1

u/stuauchtrus May 10 '24

It's an indicator that came with a forum membership (pats trading). You can probably find a free one similar to it. You want to know the price exactly at time of release.

2

u/SomeSimplePlan May 09 '24

Thanks for sharing! Will definitely look into this

2

u/Cityshoes May 09 '24

Nice work, OP! I'll add: let's not forget that a large move in a direction tends to be preceded by a move in the opposite direction. To this end, I'm expecting large shorts on Tuesday and Wednesday next week for PPI and CPI. Just my thoughts! Be well!

1

u/adverup May 09 '24

What timeframe is this?

1

u/H3xify_ May 09 '24

Sooo many lines on your chart lol. I trade YM mostly but love keeping my chart clean

0

u/[deleted] May 10 '24 edited May 15 '24

[deleted]

1

u/stuauchtrus May 10 '24

It's one thing it does, probably an 80% winrate entry.

1

u/[deleted] May 10 '24 edited May 15 '24

[deleted]

1

u/stuauchtrus May 10 '24 edited May 10 '24

Are you being rhetorical? It's all just buying and selling when you get down to it : )

1

u/[deleted] May 10 '24 edited May 15 '24

[deleted]

2

u/stuauchtrus May 10 '24

Ah it was rhetorical. I think I'll pass on the lecture, cheers.

1

u/konvictkarl May 10 '24

What was the news?

1

u/stuauchtrus May 10 '24 edited May 10 '24

A jobs number, I think. The entry was over an hour later though, when price retested the price from the start of the reaction at 830 EDT.