Dow Futures

My 5-minute momentum indicator just went long for the YM futures. With oil down over 1.50 and gold correcting big time, I am going to put on one long position here. My down side will be 30 ticks given the volatility of the past couple of days. I will be holding until the 5 min momentum indicator tells me to exit. I will add to the position if my 15 minute indicator goes long. It is netural at this time.

Entry 13474: 1 position
Stop: 13454
Target: defined by momentum indicator.


Update 1:


Position has started to move in a positive direction. I do not have a "Yellow Tip" yet on my 15 min charts, so I will just hold with one position. I will add to that position if my momentum indicators switch to long and I get a Yellow Tip. A Yellow Tip (YT) is a cross over of the 8 ema with the 20 ema. I call it a YT because I switch the moving averages to histogram to more easily see the pattern (see below). This also allows me to easily see the 3-legs.




Update 2: Exited partial position when 5 minute indicator went back to neutral. 15 Minute YT never triggered. End result was -17 ticks (equal to -$85 per one position).