ES Journal - 2012

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Quote from Laissez Faire:

Speaking of pivots then, I have S2 at 70. Being a round number and vicinity of the overnight 50% level, it could be a good bounce level.

But do not listen to me, I`m clueless. :p
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No, your levels are spot on. I see 70 as being significant as well.

I am going to hold a bit longer, and cover on the first green candle on the 5min.
 
Quote from keeptradin':

Covered half at 74.50, +5.25. Stop @ B/E on other half, target 68.
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Covered other half at 71.75, +8. Reversal appears imminent here.

Great call on the 70 level, LF. Will consider modifying my S/R calcs to use the cash numbers.

First trading day of the new month for me...booking profits is critical. :)
 
Excellent trade, KT. I`m impressed. :)

Pivot point shorts or longs are good set-ups and it is amazing how often that level is respected to the tick, like today. I just did not see it and it appeared to me we would take it out.

FWIW, I had a small short this morning at a lower level than you and banked 3 points, fearing a retrace.

Right now, I don`t see any good set-ups as I don`t have a conviction either way. Unless something else materializes, I will see if 75,50 acts as resistance, being both the prior day`s low and today`s 50% retracement level.
 
Quote from keeptradin':

Will consider modifying my S/R calcs to use the cash numbers.
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I think it makes more sense, since we are really trading a derivative of the cash market. The numbers also apply to the same hours as SPY.
 
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