Emini day trading with multiple time frames example today. I had a Short bias from Friday’s analysis and picked up my 4 points on an early Short trade.
Remember the charts below are of the continuous Emini contract that includes both day and night sessions (@ES in TradeStation).
Emini Day Trading – High Time Frame (Emini 2,097 tick)
In my highest time frame chart – which I use to determine trend direction – we were already in a down trend from Friday's activity. At the beginning of Monday's trade the Emini "Pulled Back" into a cyclical high turning point – setting up for a Short trade.
Emini Day Trading – Middle Time Frame (Emini 699 tick)
In the middle time frame chart we also had a cyclical high turning point that was taking place at resistance in a consolidation zone.
Emini Day Trading – Low Time Frame (Emini 233 tick)
In my lowest time frame chart you could clearly see the "complex" correction that was taking place in pre-open trading. The Emini had been bouncing between support and resistance in an ascending triangle consolidation zone. The Better Sine Wave marks the highs and lows of this type of move beautifully.
I went short at 883.50 and took profits at 879.50 – my 4 point profit target – then went to bed. Don't forget I live in Sydney, Australia, so it was the middle of the night.
Good luck with your Emini day trading.
