ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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market doesn't have much more fuel for higher levels..
the 38% fib at 1238-40 is significant resistance, will be looking to sell into this zone or less and a play for 1180.. which is the 50% fib on the weekly charts..
we will sell off into the august 5th FOMC meeting. In bear markets, markets sell off into news events whether it be jobs or other significant timing points.
a stop for this trade would be calculated as
1238-1180 = 58 points
1238 + 58 = 1296
after calculating points work backwards into amount/lot size for the position trade, based on the dollar amount willing to be risked for this trade.
the 38% fib at 1238-40 is significant resistance, will be looking to sell into this zone or less and a play for 1180.. which is the 50% fib on the weekly charts..
we will sell off into the august 5th FOMC meeting. In bear markets, markets sell off into news events whether it be jobs or other significant timing points.
a stop for this trade would be calculated as
1238-1180 = 58 points
1238 + 58 = 1296
after calculating points work backwards into amount/lot size for the position trade, based on the dollar amount willing to be risked for this trade.
well i got into a trade (that wasn't my powerful set up but had a nice 50 50 prob) with a tight stop and lost 150. even tho i lost money... i respected my stops and....ACTUALLY PUT IN A TRADE. I'M BACK IN BUSINESS 
lol thanks guys.
oh yeah...never try to short an obvious trent day :/. still feel good to put in a trade tho
lol thanks guys.oh yeah...never try to short an obvious trent day :/. still feel good to put in a trade tho
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