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