CME eyes on $225: Major front with only scattered clouds above CME has been struggling up against a major resistance zone.
Golden Genesis plus Golden Cofid fibs in a tight confluence.
Break should run given only minor fibs for some distance above.
$ 225.53 - 226.56 is the immediate zone of interest.
$ 218.47 below is first support for SL protection.
$ 239.66 is first hurdle and should be easy target.
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MX4A trade ideas
CME to $209MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading system is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price at top channel
Stochastic Momentum Index (SMI) at overbought level
Price at Fibonacci level
In at $218.62.
Pullback target 208.67 (1.618 fib ext)
CME 1H Long Swing Aggressive CounterTrend TradeAggressive CounterTrend Trade
- short impulse
+ biggest volume T1 level
+ biggest volume 2Sp-
+ weak test
+ first bullish bar closed entry
Calculated affordable stop limit
Takle profit:
+ 1/3 1 to 2 R/R
+ 1/3 to a Daily CREEK
+ 1/3 to a monthly 1/2
Daily Context
"- short balance
- unvolumed ICE level
+ support level
+ biggest volumed of the Day wave"
Monthly context
"+ long impulse
+ 1/2 correction
- volumed T2
+ support level
- unvolumed manipulation"
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Strong Momentum - 230 Initial TargetCME has a bullish setup that I've traded with success numerous times in the past. It repeats this pattern a lot.
Buy Zone = 217 - 221 (current level); Breakout level = 222
- Initial Target = 230 by 3/15/2024
- Then expect pullback to test 222-224 for support
- After that it will make a final leg higher to end this wave around 240-250 in April-May 2024.
CME is correlated with crypto moves but not dependent on them, so current BTC/ETH rally helps here, but doesn't really matter the CME setup drives itself.
CME Entry, Volume, Target, Stop
Entry: with price above 221.77
Volume: with volume greater than 1.77M
Target: 230.73 area. This is an area, you might consider existing early if price drops below a significant moving average such as the 10, 20, or 50 EMA. You might also considering holding some portion of the trade longer as price closes above significant moving averages.
Stop: Depending on your risk tolerance; Based on an entry of 221.77, 218.78 gets you 3/1 Reward to Risk Ratio.
For a higher risk and higher reward trade, enter when price breaks above 217.90 (high from Nov 13) and set your stop below the entry day or day before entry day candle, or wherever your normal risk tolerance allows.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Pro Trader Patterns for Swing TradingThis important exchange has been doing very well with options and futures contract sales.
NASDAQ:CME had a classic pre-earnings run up fueled by professional traders swing trading, out of a platform support level.
The retracement was only a sympathy move with retail knee-jerk reactions due to the fear around the stock market at this time, not an indication of the company's earnings report or growth potential.
The stock is not at its all-time high level yet, so it can run further before slamming into strong resistance.
On the monthly chart, it has a Double Trough on DPO, which is a strong indication for the stock's long-term cycle.
CME Long Good Risk reward to a good company
SL pink line. Blue green TP at 2/3 and let 1/3 run
Insider bought around this price
Date Filed Reporting Name Relationship Trans. Date Shares Price $ Total Value $
29 Mar 2023 SHEPARD WILLIAM R Director 28 Mar 2023 195 186.45 36,337
29 Mar 2023 SHEPARD WILLIAM R Director 27 Mar 2023 298 185.32 55,194
29 Mar 2023 SHEPARD WILLIAM R Director 27 Mar 2023 13 185.32 2,433
20 Jan 2023 SHEPARD WILLIAM R Director 18 Jan 2023 55 175.98 9,651
20 Jan 2023 SHEPARD WILLIAM R Director 18 Jan 2023 1,244 175.98 218,905
20 Jan 2023 SHEPARD WILLIAM R Director 28 Dec 2022 13 168.11 2,145
20 Jan 2023 SHEPARD WILLIAM R Director 28 Dec 2022 289 168.11 48,646
05 Dec 2022 TIERNEY ROBERT J JR Director 02 Dec 2022 1,500 176.55 264,825
08 Nov 2022 SHEPARD WILLIAM R Director 04 Nov 2022 40,000 170.00 6,800,000
08 Nov 2022 SHEPARD WILLIAM R Director 04 Nov 2022 8,645 170.00 1,469,636
08 Nov 2021 DUFFY TERRENCE A Chairman and CEO 05 Nov 2021 400 222.02 88,806
05 Nov 2021 DUFFY TERRENCE A Chairman and CEO 04 Nov 2021 200 220.21 44,042
05 Nov 2021 DUFFY TERRENCE A Chairman and CEO 04 Nov 2021 100 220.21 22,021
05 Nov 2021 DUFFY TERRENCE A Chairman and CEO 04 Nov 2021 100 220.20 22,020
05 Nov 2021 DUFFY TERRENCE A Chairman and CEO 04 Nov 2021 300 220.21 66,062
05 Nov 2021 DUFFY TERRENCE A Chairman and CEO 04 Nov 2021 600 220.26 132,153
05 Nov 2021 DUFFY TERRENCE A Chairman and CEO 04 Nov 2021 300 220.13 66,039
12 Jun 2020 SHEPARD WILLIAM R Director 11 Jun 2020 1,229 178.10 218,885
04 Jun 2020 SHEPARD WILLIAM R Director 02 Jun 2020 771 178.10 137,315
CME: Might the rally continueA price action above 179.00 supports a bullish trend direction. It is also close to the 200-day simple moving average.
Further bullish confirmation for a break above 188.00.
The target price is set at 193.00.
The stop-loss price is set at 181.00.
A change in trend direction as highlighted by the MACD might acts as further support.
The moon made a mistake
I hate being slapped left and right in the market, buying at the top of a range, selling at the bottom. I hate false breaks, I hate making the right moves but losing money up and down -- that can happen if I stop out on a bull weakness, chase higher on strength, and stop out on weakness, and the cycle continues. Even in the gold market's $20 range, I could lose $50, albeit in the right direction.
Concussion trend, can produce not only major loss, and also can blow trader's confidence. I have had many such experiences myself. Because before the emergence of big market, often will be the first violent shock, deliberately frighten traders, thereby missing the real good opportunity.
The biggest temptation after an early stop is to get back in before a strong signal. Once trapped in this cycle, trading discipline and patience will be tested.
Downward impulse confirmed on CME. CMEGoals 229, 222. Invalidation at 255.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe