New York, 3.45 pm EDT
Hello Folks, the S&P500 Emini futures are at 2127.50
The previous trade hit stop loss, and futures have bounced back.
Here is our next trade.
Trade#4 of Oct 2016
Buy Emini Futures at 2128 for target 2156 with Stop 2115
Trade Rationale: We are taking 13 points risk, for 28 points reward. And the set up is as good as it can get. Today, the bottom formation looks emphatic.
Please Note: Once the S&P500 Emini futures move above 2140, then the Stop Loss can be increased to 2128 (buying price), and target can remain 2156. Above 2153, the targets of 2175-2180 will restart. So the same trade can be continued, or a new trade can be taken.