ES and YM Trading

Discussion in 'Index Futures' started by downrivertrader, Feb 28, 2008.

  1. Here's where I have the YM for today.

    12835 - Long target

    12750 - Cover on a move and settle above and go long

    I am short at 12675.

    12420 - Current short target. I will watch carefully for a reversal out of this level. Could be a very strong move up.


    1542 - Current long target (Obviously this may get broken down into smaller bites)

    1388.75 - Use as a pivot. Cover on a move up and reverse to long.

    I am short at 1388.75

    1354.50 - My current target. Watch carefully for a powerful move back up through recent tops.
  2. candles


  3. Based on the price action this morning, I am going to cover both trades and stand aside until 3:30 or so.

    Covered the ES at 1365. Up 22.75 points.

    Covered the YM at 12550. Up 125 points.

    I will frequently sit out the afternoon session until the 3:30 time frame to make sure the direction is still good. Not always. Today I have the 10 year notes hitting a key level and I am short at 117'05.5.
  4. great thread...I just sent you a private message
  5. YM

    Target 12,750

    Now using 12572 as pivot.

    Target 12.420


    Target 1368.75

    Now using 1367.25

    Target 1354.50
  6. Downside target was hit overnight at 1354.50 on the ES. Unfortunately, I was flat and asleep. Figures.

    YM has made a low 12450 so far.

    I would watch carefully for a strong move up out of the 1350 area on the ES. It is certainly critical. I am betting that we may see a big upside move out of here today. Maybe we will LEAP up.

    I would like to see the YM hit 12420 before before deciding, but as happens so often it may just folow the ES lead.

    Here is what I am watching heading into Feb 29 morining.


    1388.75 - Upside Target 2

    1367.25 - Upside Target 1

    1354.50 - Critical watching to set longs out of here if poss.

    1335.25 - Downside Target 1 (Look for reversal)

    1328.25 - Downside Target 2


    12750 - Upside Target 2

    12572 - Upside Target 1

    12420 - Critical watching to set longs out of here if poss.

    12223 - Downside Target 1 (Look for reversal)
  7. I just set longs on both the ES and the YM. Just as this is a good place for longs, it also is pivotal to further downside so it is a very aggressive trade.

    ES - 1351 - Upside targets above. Need to move back up through 1354.50 to get going up.

    YM - 12450 - Positioned ahead of 12420 target.
  8. DOW just pushed down into 12420

    Setting longs at 12410 here.
  9. Call me crazy, but I just bought some Sept 1775 ES calls. What I paid is next to nothing and that is probably what they will be worth. :p