sell ES

Very wide stops as usual for me. I had 1095 as a stop for the three separate ES SHORT positions I entered Sunday night. Just before the open today I moved the stops up a bit just incase we had some wild opening spike. Out of the open today, as I was ADDing several other "layers" to my SHORT position trade, I just trailed the stop down always about 5 pts from the current price action. When we broke through 1070, then I tightened the stop even more until I covered some of my position trade (40% covered) at the 1067 and 1067.50 price levels. For the remainder of the position trade that I am still holding overnight, I have 1075 as a stop until tomorrows open. My "stops" are very fluid throughout the day for my position trading and many times I set them according to previous price action from prior days trading. Hope this helps.

Chris
 
Quote from marketsurfer:

gentlemen,

looks like selling the ES is prudent. we are short ES 1085.75 and short NQ 1448.50.

enjoy !

surfer :)
More...

Nice Call. Kudos to You again.
 
I forgot to put my next ES targets for my position trade that I will be watching for if we continue to drop. I see some support possible at 1062 and then 1058. I will watch and see what happens if price action today approaches and tests 1065.50.

Good Fortunes!

Chris
 
I have added a "daily" chart for the ES to show what I look for to enter my SHORT position trades...and why I entered SHORT positions Sunday when the Globex ES trading opened. Any time we have new S&P highs (or within 5 pts of the high) and the ES current price action is +15 pts or more above the "Daily" 20 EMA, I then start scaling into my SHORT position trades. For the charts go to;

www.ttrader.com and click on "mycharts" at the lower right, and then scroll down to my page and click... CK Charts.

Chris
 
Chris,

What at the three lines (red, green and lt. green) on your chart, two of which say +15 and +29?

Thanks.

Wally

Quote from AMT4SWA:

I have added a "daily" chart for the ES to show what I look for to enter my SHORT position trades...and why I entered SHORT positions Sunday when the Globex ES trading opened. Any time we have new S&P highs (or within 5 pts of the high) and the ES current price action is +15 pts or more above the "Daily" 20 EMA, I then start scaling into my SHORT position trades. For the charts go to;

www.ttrader.com and click on "mycharts" at the lower right, and then scroll down to my page and click... CK Charts.

Chris
More...
 
Red line is the 20 EMA level (points to the light blue 20 EMA line - 1059.50 area when the Sunday Globex opened).

Dark Green line is where you would be +15.0 pts above the 20 EMA area (this is where I would start building a SHORT position trade...my first entry SHORT)

Bright Green shows HOW HIGH we were above the 20 EMA when the Globex Trading was going on Sunday evening after the saddam capture...at times we were +29 pts above the 20 EMA...HUGE SHORT AREA IMO! So I entered several SHORT positions at this high area above the 20 EMA going for a mean reversion towards the 20 EMA...or a sell off.

Hope This Helps!

Chris
 
That's an interesting way to look at that. Do you find using % bands around the EMA or Keltner or Bollenger not as easy to use?

Wally

Quote from AMT4SWA:

Red line is the 20 EMA level (points to the light blue 20 EMA line - 1059.50 area when the Sunday Globex opened).

Dark Green line is where you would be +15.0 pts above the 20 EMA area (this is where I would start building a SHORT position trade...my first entry SHORT)

Bright Green shows HOW HIGH we were above the 20 EMA when the Globex Trading was going on Sunday evening after the saddam capture...at times we were +29 pts above the 20 EMA...HUGE SHORT AREA IMO! So I entered several SHORT positions at this high area above the 20 EMA going for a mean reversion towards the 20 EMA...or a sell off.

Hope This Helps!

Chris
More...
 
You must log in or register to reply here.
Back
Top