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Have two separate accounts...one for your Position Trades and one for your intraday action. The other method is to find a signal like this and watch it play out...when you get an opposite signal with a reversal you can then use this area to ADD to your original Position Trade. So you are...

I do to some extent the same thing with a LONG position trade, but I prefer to carry SHORTS overnight at these S&P highs. My feeling is it would take a heck of a lot more to Gap up 20 pts in the overnight session (at new S&P highs) than it would to Gap down...just my belief, that is all. Also...

Set up QCharts free for 30 days and watch how the ES price action acts...this is the best read I can think of. Chris

My gut and intuition tell me otherwise...I will improvise, adapt, and overcome to whatever the market brings. Chris

I will never be in that category! I am no different than you or anyone else here...just speculating as always, because I know "risk pays". :cool: Good Fortunes! Chris BTW, the sooner we get OBL the better!!!

No sir! Still holding 60% of my original position, and I will re-ADD (for the 40% that I previously covered) to the overall position during any pushes above 1075. Still holding as I feel we will test the 1065.50 area soon. Good Fortunes! Chris

NO...holding a $hit load of SHORTS here. Fear should not rule a persons trading...EVER!!! Chris

So I will stick with this strategy as long as the S&P keeps making new highs. Never tried the bands as you mentioned...they might work great as well. Chris BTW, still holding my remaining positions looking for a test of the 1065.50 area...I will patiently wait. :)

Send a PM to Eurextrdr (John) for Futures or Equities. Tell him Chris sent you! :) Chris

Red line is the 20 EMA level (points to the light blue 20 EMA line - 1059.50 area when the Sunday Globex opened). Dark Green line is where you would be +15.0 pts above the 20 EMA area (this is where I would start building a SHORT position trade...my first entry SHORT) Bright Green shows...

I have added a "daily" chart for the ES to show what I look for to enter my SHORT position trades...and why I entered SHORT positions Sunday when the Globex ES trading opened. Any time we have new S&P highs (or within 5 pts of the high) and the ES current price action is +15 pts or more above...

I forgot to put my next ES targets for my position trade that I will be watching for if we continue to drop. I see some support possible at 1062 and then 1058. I will watch and see what happens if price action today approaches and tests 1065.50. Good Fortunes! Chris

Very wide stops as usual for me. I had 1095 as a stop for the three separate ES SHORT positions I entered Sunday night. Just before the open today I moved the stops up a bit just incase we had some wild opening spike. Out of the open today, as I was ADDing several other "layers" to my SHORT...

Looking for re-test of the ES 1065.50 area (12/12 LOD), and if this area breaks through then I will stay in my position for the next target test. 1065.50 was the area I was looking for to decide if I would cover all positions (support holding with no failures) or stay in the position for a...

Covered about 40% of my position at 1067.00 and 1067.50. Will hold the rest overnight looking for a re-test of the 12/12 LOD at 1065.50 for the ES. Chris

The SHORTS may be surfing the Mutual Fund "hey we can't pass up these highs" early year end sell off portfolio house cleaning. Chris

Hobby is wet and sticky as usual! Even when the temperatures are lower? That is why I live in Austin...much better climate...dryer and more sunshine! Chris

for these trades I keep it simple...I just look at volume pressure throughout the day and the price action in relation to the "Daily" charts for the ES. Chris

I only see this if the market remains weak going into tomorrow. The market has a lot to digest after all the weekend news, so anything can happen. I feel that we do not yet have a STRONG area of support for the ES in the 70's price level area. I see the PPA (previous price action) support...

I was looking for a 1075 break on the ES today to stay in my SHORT position trade...this just happened a little while ago. I will go for 1065.50 area re-test (LOD from 12/12) over the next day or two. If I feel we have built a good area of support prior to this price level then I will cover...