ES Journal Archive (2011)

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Quote from Laissez Faire:

Opening range high is more like it :)

I think I will hold my long all the the way to 1200, unless 1191 acts as resistance.
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Short ES 1189.5 (hedged with options) for this week 19Sep/26Sep. :)
 
Quote from Picaso:

:)

We're at the opening (gap) price. Let's see where we go now.
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The opening price served as perfect resistance on the first touch. Nice :)

ES is still respecting the trend line and the 50% level, so I`m holding my long for now.

If NQ pulls back deeply considering it`s nice run up, I may get stopped either way.

I considered scracthing it now for a small profit, but I did that with my long at 1182 as well, so I`m just going to practice patience now as I still believe in upside for today based on my reading of the 5-minute.
 
Taking out the opening range high now.

A 50% gap fill and tag of the AH high is not improbable, considering the recent average daily range.

Took out the risk now and trailed a sell stop to 1189. Maybe I`m greedy, but I`m holding this one for now.

If we were to make new lows today, we would have to see some kind of news shock, right?

NQ is close to filling it`s gap completely though, so perhaps I should take profits.

Tough one :)
 

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Now, I`m quite confident that we will tag 1200 by end of day, but I have no idea how much we will pull back.

I guess my trade is discarded for journal integrity purposes anyway, but I`m adjusting my stop to 1187,50.

Some may say that it is reckless to leave over 6 points on the table, but I`m learning to have conviction in my targets and trade the bigger swings.

If one is really good, one could take profits at extremes and re-enter on pullbacks, but it is more stressful and not always very easy to do in practice.

As long as the trade is risk-free, I`m fine with trying to capture a runner once in a while.

Off to have some dinner now :cool:
 
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