For those of you who read my Futures Play of the Day post from 2 days ago, I hope you were paying attention today!

If you pull up a 5-minute chart of the ER2 (Click Here if you don’t have access to your own charting platform & would like to see the chart)…Look at the price action at 10:00 AM exchange time. Prices are drifting higher in a tight consolidation on lower volume.

Simply draw a trendline at the bottom of that channel and at 10:00 the break comes followed by a 5 point drop over the next 10 minutes.

Also, if you can pull up a 2-minute chart you will see the exact same setup occur at 10:16 (Exchange Time = 11:16 E.S.T.) with a minor retracement on low volume followed by a downward break of the channel and another 3 point drop.

I am now done for the day as the wife and I are heading out for a couple hours. I won’t be posting my results today in detailed form as I don’t have time right now. In short though I had a good day going 16/19 trades and very much a positive day.

I may or may not make any adjustments to my Swing Trades this weekend, I’ll have to wait and see how everything looks after putting in some further research-time. I may just let the 3 trades stay as they are and give them a chance to hit their repsective targets before selecting any new picks.

Have a nice weekend!