After exactly three minutes (at 9:34:00 a.m. Eastern Time), put your sell order above the high of the past three minutes.
Sell to open one contract, and for the next few minutes add to your position above your first sell price.
Your Stop Loss (if you use them) will be set after five minutes, and Take Profit targets are arbitrary, but first profit must be taken at or below your first sell price.
Manage what is left and do so before 9:43 a.m.
In these videos, I show the entry, selling on the way up, and the management and taking of profits when the initial (irrational exuberance) of the first three minutes is retraced – note the high of the first minute bar is 72.50 and the high of the bar in the second minute is 73.25. My first profits are taken at or below the lowest price of my sell orders. The timing of the audio (where you hear, “Order filled.”) does not match what I see in the videos and that is a technical problem with my recording of these videos (an issue not related to the trade.) What you see in the videos is a replay of 12/08/2020 and I’ll make more videos of other dates to show if this idea holds up on most days.
Next week, I’ll be working with this new idea. Thanks to CT-HeidiT for the suggestions.
I’ll post my results here. Comments are welcome. BrianDreamTrader at gmail – Thanks!