ES Journal Archive (2006 - 2008)

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Quote from mbusch:

In Globex...
L 1518.25 stop 1517.00 (1.25 points)
PT1 1523.25 (5 points)
PT2 1530.00 (11.75 points)

EDIT: stop moved up to break-even, last tick 1521.50 (+3.25)
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Stop trailed up to 1520.25. Approaching resistance zone at 1523-1524. Next resistance above that is 1530 and 1537.
 
world markets are red.. but us index futures green. Kinda odd behavior last night. Saw buying large amount ahead of the spread.

could be PPT at work.
 
Quote from mbusch:

Stop trailed up to 1520.25. Approaching resistance zone at 1523-1524. Next resistance above that is 1530 and 1537.
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Stopped out at 1520.25 at 06:42 EDT for a 2-point gain on the trade. (I was asleep at the time.) Now re-approaching resistance zone at 1523-1524.
 
Support at 1518 area has now been violated, and may now become resistance. Looking to go long on a pullback to around 1513.50. Targets: 1523-24, 1530, 1537.

Bonds continue gaining. Oil futures sharply down. Both bullish for equities today.

EDIT: 1518-19 is now resistance. ES now running stops to the downside. I will be a buyer at about 1513.50.
 
Long at 1510.75. Very unsure how this would go so tight stop at 1509.75.

1st Tgt is boucne to 1524, 2nd Tgt is 1530.64. Then looking for shorts for a long way down.

Still very risky trade but it was part of my plan so i have to follow it.
 
1513.50 support did not hold, and is now resistance. Stopped out for 1.5-point loss. Next long entry about 1508 (which is also rule of 10). Next below that 1502.

If support doesn't hold at 1502, Katy bar the door -- there's not much support below that until 1458.25!

Did anyone go short at the open? That would have been a nice trade.
 
Quote from Mins:

Long at 1510.75. Very unsure how this would go so tight stop at 1509.75.
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That was one hell of an entry! 1 tick from the low. I did not even show 1510-11 as a weak support level. Congratulations!
 
Quote from mbusch:

That was one hell of an entry! 1 tick from the low. I did not even show 1510-11 as a weak support level. Congratulations!
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For me the support was at around 1512. My entry was positioned lower than this because i felt that the tail would run a bit further before being pulled back. Thats why my entry was at 1510.75, and i had a tight stop just in case it got run. The 1512 support held really well which was also a major confluence zone for me.

I dont know if the targets will get hit, i have scaled out 2 contracts at 1517 and moved stop to break even.
 
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