ES Futures Contract
Price has been ranging for a while, working the 7000 level.
RSI moving into the buyer zone and EMAs starting to move higher with the EMA9 and EMA20 spreading out.Price takes off, breaking the 7002-7005 resistance zone. The price quickly falls back to the EMA 20 and is violently rejected.
Entry into position with 1 lot on the EMA 20 at 7000.25, target 7016.
I waited a long time for a real upward move, and the price even came close to my stop but eventually managed to take off.
Exit at 7010.25 after a slowdown below a resistance zone at 7013-7017 and a return to 7010.
Trade Risk: 4.20R
Realized: 2.73R ($512.50)
The price then rose and finally reached the target of 7016, even going up to 7018.
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