
I so rarely see people posting their actual trade setups here I thought I'd post one of mine that setup great and easy to see today on ES/MES/SPY.
On the chart, this is MES but same trade on ES or SPY, the different colored lines are the different VWAP's for the different markets anchored to their opens (blue is NY, Orange is London and Yellow is Asia).
Out of open price made a trend down before buyers showed up and shoved price back to near high of day before getting a pullback to all the VWAPs.
This is what I call a VWAP reclaim setup, where price starts the day trending in one direction and then reverses heavily in the opposite direction hitting (or getting near) high/low of day and then pulling back to VWAP. Now the entry trigger is important here because these types of days can turn into consolidation days easily. I wait for a closed candle that shows strong buying pressure, in this case it was the 10:16 candle with a big bull engulfing candle. My entry is on the candle close, my stop is below the pullback low and my take profit was at the pre-market highs.
My take profit changes on this setup, just depending on how much R I can get, if I can get 1.5R+ at high of day I would have taken profit there, but because the entry candle and stop placement where relatively large I waited to take profit until price hit the pre-market high area.
Happy to answer any questions.