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JerryManders
Feb 29, 2024 10:18 AM

Strong Momentum - 230 Initial Target Long

CME Group Inc.NASDAQ

Description

CME has a bullish setup that I've traded with success numerous times in the past. It repeats this pattern a lot.

Buy Zone = 217 - 221 (current level); Breakout level = 222

- Initial Target = 230 by 3/15/2024
- Then expect pullback to test 222-224 for support
- After that it will make a final leg higher to end this wave around 240-250 in April-May 2024.

CME is correlated with crypto moves but not dependent on them, so current BTC/ETH rally helps here, but doesn't really matter the CME setup drives itself.

Comment

Stop loss 215, if it breaks below it has risk to 209-212 - in that case the next bullish leg would just be delayed.
Comments
Fuscanotti3105
I’m holding a call with a 3/15 exp. Is this looking up from here or time to close?
wxnder
I like this set up, looks like a sick trade
At 219 right now, still valid buy in? Are you still in it?
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