ES Journal Archive (2006 - 2008)

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Here is the visual of the trade.. Once again in a pickle.. not making it completely up to the zone before starting to pullback. I suggest waiting for a test of the major zone before getting bearish. When trading countertrend its always best to wait for the maximum extreme I find.
 

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Quote from apex82:

Alright guys... I am taking off in a hour or so. Heading to my house in the Bahamas to get some much needed vacay time, spend some time with the gf and friends and catch some rays...

I am going to try to take the next few weeks off... but I will be in the thread at times. But not everymorning like usual.
More...

Have a great time!
 
Alright... just stepping out the door.... just made direct contact with the zone.

Now short at 1553.25-.50

conservative entry... wait for reversal bar entry on 5 min chart.

Just remember its friday, options expiration day which decreases odds of trade as well as it being countertrend.

However, it is a valid setup and the risk/reward is nothing short of phenomenal.
 
adding on short here at 1552 sell stop stop at 53.75 for add on

stop at 1556.25 for initial entry and 1553.75 for add on.

EDIT: stopped out on add on for 1.75pt loss
 
adding on short again at 1552.50 sell stop and again on 1551.75 sell stop. stops will go above prior pivot high.

targets 1550.25 1538 then trail stop

Now short on another addon... this is my last one and then I have to leave. So if stopped out again will just have my original position on with a stop at 1556.25
 
risk is daily double top confirmation was just put in.. thats what the bulls have to bear.

if we break down here.. the chart looks very bearish and new lows could be in the works.
 
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