Tonight on Globex the markets gapped open substantialy lower. We currently have a larger time frame setup waiting to be triggered. If you don't know the setup, install the CFRN Emini Toolbar.
Trading Price Action
As we were waiting it seemed like a perfect opportunity to show an example of Trading Price Action on a 5 minute chart. Here's a video of the trade using the S&P 500 Emini Futures.
ES Emini Futures - 5 Minute Chart Video
ES Emini Futures 5 Minute Price Action Chart w/ Bias Indicator
Every candle tells a story. This trade was recorded live in real time on a 5 minute chart. We never use 5 minutes charts in the CFRN Live Emini Trading Room. I used the 5 minute chart tonight to make the point that markets are fractal by nature. The setup you see traded here could just as easily have been traded on a 1 hour, 4 hour, Daily or Weekly Emini Chart. The reasoning, the setup, the management, would be exactly the same on any time frame. Welcome to the Secret Life of Candles.
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