Trading the Pivots

JimmyJam · Sep 6, 2006

Quote from 5Pillars:

I did take 1 LONG at 1306.25 to 1307.25 with a first bounce off the MP 1305 area......one trade only though and next time we go down to 1305 I will not be looking for LONG's again..............

http://www.charthub.com/images/2006/09/06/ES_317_VB.png

Yeah, that's a good call, got stopped, it's probably gonna go in drib-drabs with a weak recocery in the afternoon session.

Thanks for the info.

Best,

JJ

JimmyJam · Sep 6, 2006

Quote from Trader273:

Just curious if you always double up after a loss. Say you did 1 ct the first trade, so you do 2 now, and it gets stopped out, is your next trade for 4 contracts?? Seems like a slippery slope to go down, but thats j/ IMO.

Yeah, it can definitely be a slippery slope.

Thanks for the input.

JJ

JimmyJam · Sep 6, 2006

Long @ 1304.50

Same number of contracts (2x)

Protective Stop @ 1302.50

5Pillars · Sep 6, 2006

OK....I will join you with a scalp LONG @ 1305.00 for a target at 06.00

romik · Sep 6, 2006

Quote from 5Pillars:

OK....I will join you with a scalp LONG @ 1305.00 for a target at 06.00

?

DonKee · Sep 6, 2006

Quote from JimmyJam:

Long @ 1304.50

Same number of contracts (2x)

Protective Stop @ 1302.50

1304 is the R3...should hold until beige book at 2pm.

romik · Sep 6, 2006

Quote from 5Pillars:

OK....I will join you with a scalp LONG @ 1305.00 for a target at 06.00

nice, what made you take it?

5Pillars · Sep 6, 2006

Quote from romik:

?

This was a decent ES LONG set-up imo...........

http://www.charthub.com/images/2006/09/06/ES_317_VB_2.png

YM looked strong at the time of entry so this was a very good scalp trade off the ES 1305 MP level (no new selling in the 1305 area....sellers started covering)...........

http://www.charthub.com/images/2006/09/06/YM_317_TICK.png

5Pillars · Sep 6, 2006

Quote from romik:

nice, what made you take it?

Yes....filled and now flat.

stevegee58 · Sep 6, 2006

Quote from 5Pillars:

This was a decent ES LONG set-up imo...........

http://www.charthub.com/images/2006/09/06/ES_317_VB_2.png

YM looked strong at the time of entry so this was a very good scalp trade off the ES 1305 MP level (no new selling in the 1305 area....sellers started covering)...........

http://www.charthub.com/images/2006/09/06/YM_317_TICK.png

Hey is that a linear regression channel on the ES chart?