Triple Top Pattern (5/24/2012)

Good trade. If you were looking for a breakout signal, once ES cleared 1313.75, the previous lower high, might have been a good entry as well. There was volume building at the time.

Quote from RenkoTrades:

I took TF long trade when ES was trading back to 1315.50 in last rally of the day. I think ES 1323 pricing will get traded through this evening (breakout higher) and I want to be long in the TF. I will start scaling out of TF long trade when ES is trading through 1325 and higher.
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Thank you. The trade worked out and I was able to scale out TF positions when ES was trading through the 1326 to 1328 level last night. I had to hold TF through the ES pullback in the evening to the 1316 level but buyers finally drove price back to the Thursday close price level, all looked good at that point and we punched through.
 
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