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The new visible resistance being shaped is seen at 1136. I'm currently still short from 1195.25 (approx. $3,412.50 unrealized), but have adjusted the stop lower to 1139.50.

I notice the very same in index futures, specifically the ES. But instead of trading bounces (which I find rather speculative), I trade its breaks and set a stop to the most recent spike created prior to the break. I find the trends to be very smooth and straightforward in the ES. In my...

Makes sense. Will do, sir.

I wanted to add a chart along with it before I post. I'm not sure this journal is understood as a signal service?

Short @ 1195.25, Stop @ 1197.50 I'm posting late as I just came back from office. At work, I observed how a new support basis formed during the last two days at 1194, and subsequently broke premarket. This is where I took the opportunity to close out my previous long position at 1194.50 for...

Of all markets, it offers the best trends if you ask me. Support and resistance areas are very well respected.

I decided to set the new stop to 1180.50 because I see it as an important low that ought to hold for the current uptrend to remain intact. Thinking ahead, if this low breaks I do see a pattern of lower lows and lower highs emerge, which is clearly understood as a downtrend according to the Dow...

Thanks, Snow :) The ES formed another higher low before breaking and holding new highs. Hence, the stop is now at 1154.25. Currently sitting on about $1,800 unrealized profits – we'll see where the market takes me, but definitely looks bullish in daily and weekly charts.

The stop is now put even higher to 1147, the low made earlier in the 1H time frame. This nearly nullifies my trade's risk.

Adjusted the stop to 1138 which is an important low in the new uptrend according to my understanding. Still long since yesterday.

Bought @ 1149.00, Stop @ 1127.75 (new Dec'11 contract) I covered my previous position since Friday for an average profit of 25.25 ES points ($1262.5) and reversed long with the new December contract. I saw a resistance area forming and blowing toward session close. Total profit since...

Short from 1180.25 today.

Short @ 1180.25, Stop @ 1186 Shorted when support at 1177 was about to break. Had been observing the premarket activity and noticed how the ES kept rising up from there but never meaningful enough. This support basis is perhaps more striking in the 4h time frame. Once it broke, I saw that the...

I have been visiting these forums on and off for a while and decided to start my own journal now. My interest in particular is trend following the ES by simply using support and resistance levels in the one hour chart. I will trade breakouts to enter long and breakdowns to enter short. Perhaps...