ES Journal - 2013
- Thread starter Trvlwanderer
- Start date
I had thought we might get a down day but not really looking like a trend. weekly expiration looks like "they" might want to pin the 50. I'm with ammo in that if we break 47-48 decisively then there may be an abandon ship and take your profits mentality to push ES down farther. However I'm betting on the pin.
Yep. And there was some talk about instituting daily's for the true blue junkies!
I don't know how much pinning actually exists anymore given hft and mkt structure change.
agree but contracts traded in the weeklies have increased exponentially in a few short years and many traders roll rather than take the weekend risk of gap down/up over Sun nite. my observation (thought)....no basis in fact
yahoo:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=on&z=l&q=l&p=&a=ss&c= [/url]
Normally, in day trading, we don't care what happened during the week. Also we don't use the slow stoch for trading in real time.
However, we can see that the market yesterday went up before falling, and we see the slow stoch is extended to the upside. Then looking at my small time frame chart, I saw that I could make a scalping trade with a small stop and target.
I got in the short with a limit order at market price and the trade right away went 2 ticks in my favor. If I was trading multiple contracts I could have averaged in if the trade went against me but still keeping the same stop and or had another contract aimed for more profit.
I then walked around downstairs and when I came back, my scalping target was hit. For those who are swing trading, we could see more weakness before the market closes today as I think longs may not want to hold over the weekend.
http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=on&z=l&q=l&p=&a=ss&c= [/url]
Normally, in day trading, we don't care what happened during the week. Also we don't use the slow stoch for trading in real time.
However, we can see that the market yesterday went up before falling, and we see the slow stoch is extended to the upside. Then looking at my small time frame chart, I saw that I could make a scalping trade with a small stop and target.
I got in the short with a limit order at market price and the trade right away went 2 ticks in my favor. If I was trading multiple contracts I could have averaged in if the trade went against me but still keeping the same stop and or had another contract aimed for more profit.
I then walked around downstairs and when I came back, my scalping target was hit. For those who are swing trading, we could see more weakness before the market closes today as I think longs may not want to hold over the weekend.
