ES Journal Archive (2011)
- Thread starter Buy1Sell2
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I reinforced a new rule today that would have made and saved me a lot of money if I used it from day one.
"Take profits around support or resistance. Re-enter after the market has shown it`s direction. The exception is when price blasts through S/R"
Writing it here for further reinforcement
This happened today as I was carrying a long from 1283-1285. I took profits @ 1285, as I anticipated price to slow down at that area. Price did indeed slow down and retrace some before moving higher. I then entered a long @ 1285,50 after price broke and closed above resistance.
I was already anticipating a gap fill from the long I carried from 1283, but from experience, I usually am best served by ringing the cash register and then re-entering.
"Take profits around support or resistance. Re-enter after the market has shown it`s direction. The exception is when price blasts through S/R"
Writing it here for further reinforcement
This happened today as I was carrying a long from 1283-1285. I took profits @ 1285, as I anticipated price to slow down at that area. Price did indeed slow down and retrace some before moving higher. I then entered a long @ 1285,50 after price broke and closed above resistance.
I was already anticipating a gap fill from the long I carried from 1283, but from experience, I usually am best served by ringing the cash register and then re-entering.
res line over the past couple days. logical "stall".
91 is a resistance from yesterday. I had an alert at 91.50, and then watched what price was doing plus my indicators, and was able to make 2 point short profit on a counter trend trade.
Today was best day of this week for me.
For real money, I had 2 BE, and 2 winners.
For sim, 1 winner.
For real money, I had 2 BE, and 2 winners.
For sim, 1 winner.
bOOM! Nice rally. 'W day' boyz bringing the heat 
Nice display of strength
Tagging 1295,25 (last week`s cash high) or 1296,25 (Monday`s high) by EOD?
Yesterday`s high tagged, short of one tick @ 1294,50.
Tagging 1295,25 (last week`s cash high) or 1296,25 (Monday`s high) by EOD?
Yesterday`s high tagged, short of one tick @ 1294,50.
Lots of shorts gonna start covering making for more nervous shorts.
Quote from Laissez Faire:
Nice display of strength
Tagging 1295,25 (last week`s cash high) or 1296,25 (Monday`s high) by EOD?
Yesterday`s high tagged, short of one tick @ 1294,50.
Last week`s high - Check!
Monday`s high - Check! (Okay, short of two ticks).
Tried getting filled on the tick like emg at the highs, but I`m taking a counter-trend short here, anticipating that resistance around 1295 holds.
Short @ 1295,25. Stop @ 1297,25. Not sure about target yet. Will trail a stop if it moves in my favour.
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