#ymh5

08:17am: After yesterday’s massive short covering rally, the Dow futures are giving up some gains in the early morning trades. YMH5 is trading at 17836,  30 points lower than yesterday’s close.

USD is again strengthening and may further strengthen if the 8:30 am data release is perceived to further support US economy strength. This will put pressure on the Fed to increase interest rate in Jun, for the first time since 2006, a big game changer for the markets.

Trade Set-up: Short YMH5 below overnight low of 19822 with three contracts, with stops at 19842. If the market moves lower, cover two contracts at 19802. Move S/L to breakeven for this last contract, and use a 20 points trailing stop to close contract.

11:00am: Market making a round trip and wiping out gains from yesterday.

YMH5 Dow futures traced an inside day on Mar 09. YMH5 is being controlled by an outside week bar last week. . Expecting continued weakness with support coming at the uptrend support line at  around 17500 in the intermediate term.

Overnight markets were weak and at present YM is off about 115 points from yesterdays close  to 17855.

07:54 am:Short below yesterday's low at 17816. Cover at 17786.

https://www.tradingview.com/x/oHH3Q9Wi/

08:30am: The short is now closed at 17786 with a gain of 30 points per contract. 

http://www.investing.com/indices/us-30-futures

YMH5 futures traced a low volume, inside day., with a potential for a trend day on Mar 06.

Going long at 18149 or Short at 18069, whichever breaks first. When trade is triggered, targeting 25 points move. S/L will be at 20 points after trigger. Best.. For instructional purpose only.