Quote from marketsurfer:
We are going to try the SHORT shot again with 10 ES september @ 1274
surf
It appears you are adding to a loser unless I missed a post and you closed out the last trade as a loss and then are adding another trade.
We are going into fed week and the market reacted to good market news yesterday with the Walmart legal victory.
This is a good time to be on the sidelines. The fed can do something that could make the market rally long or short in the weeks to come for a swing but for intraday its a long bias at this time.
For yesterday the market was clearly long on the 30 min chart and it is now showing it on the daily chart also. Will the daily chart hold today is yet to be determined but even if it does or does not hold we still have WED!
You were really going against the trend with this one.
We were clearly at a bottom waiting the fed announcement. I posted that we were in a bottom based on me exiting my last trade in the ES Journal thread. Where we have went from 1252 to now 1280 however we still have not broken the 1282 resistance and that may or may not happen today.
Only thing going for a short position is the weekly chart and that can be changed weds. Today is a key day for you in your short. It really depends on how the market closed today and tomorrow.
I wish you good luck on your short. I hope that your strategy is more than just luck but that has yet to be determined for me.
For now I will keep reading. Good luck I sit on the sidelines awaiting fed. Long or short it does not matter. As long as I trade on the right side of the market.