Longer term position player looking to post here some shorter term ES trades to begin to get a feel for the intraday movements etc. Some positions will be held overnight and I will use this as a training ground to get stops put in at correct levels etc. It may take me a while to get good. I am used to holding positions for weeks and months.
Posted by Satchel: the last short avg 96 was an incredibly dumb idea. Too much in the details when the plan was macro. Turns can be tough (for me) - I can plan and figure the Gann swing is the 5th or the morning of the 6th...days in advance...plan on paper and still be flat-footed. The plan worked, the execution of it not so much. If the market is trending, for turning points I use a gann fan and square of nine chart for price and time projections on a daily and hourly ES. I use this rarely, not intra-day. Going to sit with the ES directional play long and the Euro short (euro inflationary risk, blah blah greece exit, USD can stay overbought for streches. planning on exiting Euro into NFP though) ES last 2040. DJI new intra-day high. Go riverboaters.
Yet another V reversal to new highs on the cards, they did it in 3 days the last time this happened...
Will enter short the March contract with full position on a stop below today's low. Ordered placed to enter short at 2019.75. Buy stop would then be placed at 2058.25
From I love options: satchel said: 2048 is Resistance line/target/magnet I love options:You're not kidding