Dow Jones July NFP Range Play 5.25 to 1 Risk Reward

5 thg 7, 2024

I am expecting a spike down at NFP into the range yellow box. I don't know how deep into the box it will go and so I am forced to use a bigger stop to compensate as IF this play is to work then price cannot go below the yellow box.

After the spike down, the trade should immediately be in profit for the explosive short squeeze 450 ticks higher to take out 39,850.

All of these stacked highs are dead giveaways for a short squeeze.





I will be placing my limit buy down in the yellow box at price 39,416

I will be placing my stop loss below the yellow box at price 39,336 for 80 ticks

I will be placing my target at the stacked highs up near 39,850. I will be getting out before then at 39,830. Target 414 ticks

5 thg 7, 2024

Ghi chú

My orders are in on my broker now. Will check back after NY open if filled or not.

5 thg 7, 2024

Ghi chú

I am not sure now if it will get down there or not? I mean so far price action is following exactly as I had laid out. I still have my limit buys down there, Im just not sure if Ill get filled. I may have to enter in on a bull candle after the spike

5 thg 7, 2024

Ghi chú

My suspicions were correct in that price did not reach down there. Price is showing extreme strength and I moved up my buy limit to 39,604 as a pullback from NFP spike. I will be targeting the same 39,830. My stop now will be 50 ticks.

The fact that the NFP spiked down and stopped one tick shy of the other low tells me it shouldn't go lower IF it was to continue higher. I will place my 50 tick stop under that low.

I will be looking for NY to open and pullback into the low 600s. If nothing happens then I will call it a day.

5 thg 7, 2024

Ghi chú

Any pullback into the low 600s is a buy for me.

5 thg 7, 2024

Ghi chú

I had a limit buy at 39,604 and it was blown right past, stopping me out in around 15 seconds. First trade was a loss. I then waited for price to stabilize and I entered in Market order. I got filled at 39,573. Using a 50 tick stop. I will be just going for a 4 to 1 on this trade. Win or lose I am done for the day. Time to walk away and let it play out