This is a student submitted live trade by Juan. This is a second entry long with a 3 point runners as well. This is an interesting trade, because I talked about the mid line in Wednesday’s chart lesson. You prefer to see the mid line hold a few times before you take a trade off of it, and even then, you want a solid second entry set up with a good signal bar.<\/p>\n\n\n\n
In this case, there is actually an engulfing bar, although Juan waits for it to close and enters one tick above the signal bar. Since it was an engulfing bar, if you like the set up, you could actually enter one tick above the bar to the left of it as the engulfing bar broke higher above it, and that would have given you a 2 tick better entry price it appears. Nothing wrong with waiting on the signal bar to complete here though, I just wanted to point out the option to enter a few ticks earlier if one so desired.<\/p>\n\n\n\n
Juan scalps out on one contract, then gets a three point runner on the second contract. He exited at the top of the channel, which is exactly how I would have played that trade as well. This was a nice trade and thanks to Juan for sharing it with us.<\/p>\n\n\n\n