Terrible morning started with 4 small losses in a row. One nice winner and i was back on track. Market had been very kind however. 10x10 ES traded. 17.5 ES points =$827 Clown has been doing quite well since inception of the journal. The journal has really enabled to stop losses very quickly. As you can see from my trades i do need a good market to make good money. Chop days can kill my trading. Good trading to all - will post some charts a little bit later. Have to go out and go boxing now.
Okay here are a few charts of what zones i will be watching today. I would love this to sell of and then go straight back to 83-84 value zone. Price is approaching my first 15 min zone at 70 right now.
The reason why i tool shorts of yesterdays highs can clearly be seen on the 60min resistance level and the 15min channel top. A swing short of those levels would have netted nearly 20 points.
I am still bullish here unless i see a major trend change. The market is probably attracted to the 1400 zone - it will have to make a run for it hopefully sometime this week. I might short the temporary weakness today when markets open but if i see a turn then i will be holding longs to the 83-84 zone for sure.
Missed that first half hour - looks like 71 was the low, so that first zone has provided a decent bounce. However, this 79 level may offer some good R.
One push higher and i may even start putting my bear hat on. I'm seeing something develop on longer term charts indicating down move. Hm-mm we shall see - trend on 1min still up.
Short 77, tight stop. Silly counter trend Very poor entry on this but i want to catch this move if there is going to be a downmove. May have to re-enter on this one. Target is 70.
Man did i see that late. I have terrible R:R, i should have been short closer to 80 on this trade. Now im stuck as this can retrace and stop me out.
Stopped 78.50 for -1.5. Bad entry means bad R:R and usually means bad trade. Will re-enter quickly if i can.
Short agains at 77.75 as trade still valid - very tight stop however. Maybe i should wait for 83-84 zone before shorting. Stopped at 79 for -1.25