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For a low-risk reversal, I'd like to see a sharp up-volume spike to right around 1546 with overbought RSIs. Easy to visualize that happening here, and it would be a good sign to enter short. If instead it just grinds higher through 1546.50, I'll probably look to enter long. Either way...

For a low-risk reversal, I'd like to see a sharp up-volume spike to right around 1546 with overbought RSIs. Easy to visualize that happening here, and it would be a good sign to enter short. If instead it just grinds higher through 1546.50, I'll probably look to enter long.

ES appears to be at a critical juncture here. If ES breaks the descending trendline (presently about 1546.50, just 2 points above last paint of 1544.50), it is likely to go to new contract highs. If ES pulls back off that descending trendline, it is likely to decline to the bottom of the upward...

Bear flag breakout was false. Price action terrible. Stopped out at 1545.00 for 1.5-point net loss (+.25 on initial position, -1.75 on add-on). Seemed like a good idea at the time, but I'd have been much better using the time to get some sleep. :( A breakout above 1546 would suggest a rally...

I lied about going to bed. Observed possible bear flag formation starting at 05:00 EDT. Decided to wait to see if there would be a downside breakout from the flag at which I could add on to short position. Breakout appeared to occur at 06:23 EDT. At 06:24 EDT, added to short: S 1543.25...

At 02:51 EDT S 1545.25 BS 1547.25 (2 points) PT 1536.25 (9 points) At 05:15 EDT Last paint 1542.75 (+2.5 points). Lowered BS to break-even at 1545.25 with automatic trailing BS at 2.5 points. Closing buy limit order at 1536.25 (+9 points). Going to bed until open of RTH.

Stopped out.:eek: Working assumption now is that we're headed for 1552. I've not had a good day today: 6 points in the hole. TGIF!!!

Still short one unit, looking to add on once I see more downside confirmation. This is killing me! :)

You mean 1541.25?

S 1542.25 SL 1543.50 (5 ticks) PT1 1536.50 (5.75 points) PT2 1534.50 (7.75 points) PT3 1530.00 (12.25 points)

Nice entry! Resistance at 1537 remains valid. Looking for possible long entry around 1530.00-1528.50. If we get below 1528, next stop looks to be 1523.

Stopped out for -1.5.

at 0856 EDT L 1533.50 SS 1532.00 (1.5 points) PT1 1539.50 (6 points) PT2 1552.00 (18.5 points) NOTE: Bought one unit only in Globex session. Will look to add to long position and raise sell stop after open of RTH.

So did you close out your 3rd unit, or hold it through the close? "I gots to know!" (from Dirty Harry)

Add-on closed out at 1536.75 for +4.5. Total gain +10.5. Tomorrow!

Initial position closed out at 1535.75 for +6. Trailing stop up on add-on, presently at 1534.50.

At 2:14 EDT, added to long at 1532.25 with 1-point stop on bull flag breakout. At 2:32 EDT, raised stops on both positions to 1532.25 (+2.5 on initial position and break-even on add-on). Profit targets presently are 1536.75 (+7) for initial position and 1539.75 (+5.5) for add-on. If...

Yay, Apex is back in the saddle! And trading with uncharacteristically reckless abandon!! My goodness, a 2-point stop!!! :D [Compare that with Spectre's earlier post with a 7-point stop!] I went long at 12:42 EDT at 1529.75 with a 1.5-point stop (probably entered a bit earlier than I...

And I, for one, am looking forward to watching you do it. Welcome home!

What are you talking about? I'd never hold a position without a stop. If I did, my broker would have my head on a pike. In fact, I seldom set a stop more than 5 or 6 ticks away from my entry price. Stops seem to work just fine in the Globex, although since they trigger market orders I suppose...