ES Journal Archive (2011)

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I shorted at 1341.25, looking for a breakdown to around 1338. Reason for short was blow off top and LH. I should have waited for my indicator to at least point down or gotten in a little higher with a test of the LH.

Stop was above chart top. This was a counter trend trade, and of course as soon as I got in the market went 1.5 points against me.

However, market did make a lower double top near the previous top and we got a nice red candle indicating weakness.

For me to hit my target, I was looking for EMA to be broken which it was.

I brought down my stop a little as trade was going my way, since I did not want to take a big loss if market decided to rally further, but I still left room for trade to run since too tight of a stop, and I would be stopped out.

Did other things, and watched some CNBC. Went back to look at trade and saw we bounced off of a HL, and now I was back at BE. So at this point, I set my target to just get me out at 1 point of 1340.25, which the market did. Its possible we do break that HL, but the market could just as well make a newer high or test the previous high.

I set an alert for 1344.50 to look at market if it makes a new high in case its a false breakout to try to short again.
 
Quote from dadog:

Short 1321.00

target 1305.00

*will add at better prices
More...

stopped at 1335.00 (-14).

Threw myself a pity party then:

took a long at 1336 when prices came in from 1341.50

just exited that one at 1340.00

Overall (-10).

Baby lost those pair of new shoes I was going to buy her.
 
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