wow, EurUsd trying to break up. fundamentally makes no sense but technically trying. however, daily time frame showing lower highs with base around 1.30. possibly preface of what is to come this summer.
ES Journal - 2012
- Thread starter Buy1Sell2
- Start date
- Status
Bidding 85.50 to get long.
Long ES @ 85.50, Target @ 89.00, Stop @ 82.50.
Looks like you enter at the 50% retrace. I would wait for at least one good trend bar (bullish reversal/engulfing pattern) in the direction you want before trade entry. I don't see that yet!
I use a five minute chart, and in this case, was filled to the tick at my setup level. MY experience with waiting for confirmation bars has been that the train leaves the station without me, and then I am left chasing it. That's what happened in this move, as well as the previous short setup this morning that I missed entering by one tick, for a potential six handle.
If a system has a positive expectancy over time, it comes down to confidence and execution. With a fifty percent win rate and proper trade management, profitable trading is possible. Lots of ways to skin a cat, I try to KISS.
Stop moved to 84.50. Got within one tick of my target before reversing...grrr!! :eek:
Looks like we're getting into a chop zone here. At least we've got some decent volume today.
Quote from keeptradin':
I use a five minute chart, and in this case, was filled to the tick at my setup level. MY experience with waiting for confirmation bars has been that the train leaves the station without me, and then I am left chasing it. That's what happened in this move, as well as the previous short setup this morning that I missed entering by one tick, for a potential six handle.
If a system has a positive expectancy over time, it comes down to confidence and execution. With a fifty percent win rate and proper trade management, profitable trading is possible. Lots of ways to skin a cat, I try to KISS.
True, to each his own... I'm gonna sit on my hands here. we are in the value zone and inside a trading range. I need strong movement above this level to consider long, a short is possible on a good retrace after a bearswing.
1389 - 1386 range trading just like in the during Globex :/
perfect example of how manipulated ES is. AAPL dropping and we are flat on the day. LOL
I have heard the term value zone before. What does that mean?
Covered ES Long @ 87.50 +2. Market seems to be running out of gas, volume getting thin.
(EDIT: Of course shortly after I exited, ES spiked to my target. What was I saying about confidence and proper trade management?? LOL!!)
Looks like the money was made early today. Time to enjoy the great outdoors for awhile...
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