Screenshots of the Day, CME Day Trade

Yesterday I posted a screenshot taken of the market selling off heavily late afternoon, and today I have two screenshots (before and after) of a simple day trade you could have made with CME.

The first screenshot was taken live when C M E Group (CME) finished setting up a great handle to a base at broke out above $690. A simple target price to set on this trade is $700, which would give you 2x your risk exposure (which is your stop loss) which I put at $685.85. Take note that these screenshots are intraday, so the CME chart you are seeing begins at 9:30 AM EST. Charting as usual comes from TD Ameritrade.

cme1.pngClick to view, click again to zoom.

The first screenshot came at precisely 12:02:47, or about 12:03 PM EST, and at the end of the day today CME stock found itself clearing above $700 a share. You have two options at this point, raise your stop and go long, or sell your position, take your profits and call it a day.

cme2.pngClick to view, click again to zoom.

Last note is that today was actually considered a bullish engulfment for CME stock, which is a good sign heading into tomorrow's session.

Comments

  1. Posted by thewild1 on December 14, 2007 at 1:23 am

    nice analysis

  2. Posted by Brandon on December 14, 2007 at 8:45 am

    Blain,

    great concept here and I really like the screen shot implementation in order to "visually" depict what you are discussing!

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  1. [...] have made utilizing intraday analysis. There are in fact three screenshots below, and just like the CME Stock Trade Google is similar in that the screenshots tell the story. The basis of this trade is centered [...]