ES Journal Archive (2006 - 2008)

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one thing to note is that I am still long as I am entering into my short play and vice versa. This makes it hard to violate my % risk per trade. If you are uncomfortable with averaging, stop yourself out into the opposite direction.
 
APEX:

You said: "long er2 at 814 stop at 813.40" and actually that was a great call--stopped out just barely. What was your premise for buying there? I couldn't see any reason for buying but obviously I was wrong.

DMartin
 
Quote from apex82:

Bias will be bearish if and until 1513 is taken out.


R1 1512.50-1513.50

R2 1515.50-1516.50

R2 1522-5123.50

Only labeling major support levels

1486.50-1489

1471.50-1474

I suggest putting those on your chart.

Here is the chart..
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Today the levels were spot on as well as the roadmap.

ES moved up right to R1 and dropped 7pts forming a double bottom. It then proceeded to breakout above and run up to the next resistance(On the chart you will notice it was the exact high tick, purple line). After breaking above R1, bias then turns neutral to bullish. Market moves down 2.5pts off R2 and tests R1 after breaking out above and shoots up to new highs. A great example of what I was talking about earlier with role reversal with the zones.

Here is the chart.... Good Trading
 

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Quote from Lance Carson:

Limit SELL 1512.50- SOLD
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Reversed to Long at 1513 Out at 1517 for +4Pts Total: +21.5 Pts
 
Quote from Buy1Sell2:

NQ will be interesting to watch as it has taken out yesterday's low. These are good times to then catch upside reversals. Of course, you would only get long on a nice rebound from taking out the low. :)
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Did anyone take this trade today?
 

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Quote from dmartin:

Buy1Sell2:

Don't know if you saw my question so I'll try again. It sounds like you are short 22 ES future contracts--correct? Also, how many puts are you using to hedge and what is the symbol and month you are using?

Thanks, DMartin
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I am long 22 ES units. The puts are at varying strikes and expirations. One per contract. :)
 
Buy1Sell2:

Thanks for getting back to me. Could you give me a couple of examples of options you are using? The Symbol would be helpful.

DMartin
 
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