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moving stop up to 1479.. market coming off 5 wave move... we could get our big move down now. Holding long protecting profits on last unit

If you read this statement, the time it was posted etc... Its not just a call its an explanation of the mechanics behind the trade as well. This was a picture perfect example of how the market feeds on newbie traders and I made sure to take advantage of it.

man.. they have been holding the er2 down all day... moving stop up to 1478.50 Market is getting toppy..

Read my post on this thread and view the chart with my blue support zones..... nuff said http://elitetrader.com/vb/showthread.php?s=&threadid=88864 Here is the updated chart with the price action that followed at those zones. Hit resistance, dropped to first support zone and rallied...

moving stop up to 1476 any move below would be bearish.

I would think so since I am long from the low tick of the day and he waits for a 6 point rally to sell into with a 8.5pt stop.

Taking profit 2 here at 1480.50 6.5 pts BE stop holding for new highs in the vicinity of 1489-1496...

Its all good. This is the exact same setup that I took a beating on the past 2 times. It was due for a nice win.

Taking profit 1 here 4.5pts Holding more units for new highs. BE stop

I think you guys know where I am long from... man what a beautiful call. Market was trading at 1481 yesterday when I called for this scenario. wooooo

Looking pretty good so far.....

I wouldnt chase the market here... ES and Er2 are in great spots to make wave A highs, trick all the suckers that chase the market and make one last move down into the 1474-1474.50 area washing them out, getting everyone short and then bust all the stops to new highs. This is just how I...

I agree thats a nice entry for a short with tight risk. But due to the structure of the market I am looking for a retest of the highs.

indexs are looking poised for a rally at these levels. I would trail in my shorts if you are short. Maybe one more low in the er2 into the last zone and look for a washout with an immediate reversal. That is a great sign that shows the move is exhausted and a reversal is a high probability.

Buying 1474-1474.50 hand over fist if it can get down there. 2 pt stop. Main position will be waiting for a reveral bar. Buying 829.50-830 on er2 Both entries are looking for a 78.6 of the highs and leaving runners for new highs.

Now flat Profit on first unit 4.25pts +2 ticks on second and third

Moving stop to 2 ticks above the high. I got the move I wanted early in the day as expected. It did not move down as much I had wanted but I am not taking any chances.

Ya, thanks.. gotta love immediate gratification. Taking profit 1 here at 1475.50 moving profit 3 a bit up to 1471 Will look to start going long on another account in the 1470.50-1472.75 area.

Short here premarket on ES at 1479.75 stop at 1482 Targets 1474, 1472.50 and last at 1470 where I will be flipping long for a move to new highs. Ideally, I would like to see a move down early in the day, a run back up to retest the highs and then one more decline into last profit targets...