After the spike in volume yesterday on the 240mn 9am bar + its reversal close. We find that we are still in the upper BB rang channel. From an observational point of view, the 240mn channel itself does not look wide. The 120 and 90mn BB channel is expanding slightly which would indicate a move up as long as we stay above yesterdays close.
ES Journal - 2015
- Thread starter Buy1Sell2
- Start date
After the spike in volume yesterday on the 240mn 9am bar + its reversal close. We find that we are still in the upper BB rang channel. From an observational point of view, the 240mn channel itself does not look wide. The 120 and 90mn BB channel is expanding slightly which would indicate a move up as long as we stay above yesterdays close.
The trade that I have on right now is on the one minute chart. In order to trade the 1 minute chart, I look first at at least 2 other longer charts. Typically though I will look at the 5, 15, 30, 60 and 240 so I can see bigger picture. All of the charts have flipped this morning to an upward bias, so I look for longs on the 1 min. My trade may not work out, but what's more important is that we keep the loss small --in this case 2 points, while our target is 7 points. We are right near the recent highs so the target is just 7 points.
Stopped out for 2 pt loss
Stopped for loss of .5 pts
Stopped for .5 pt loss