ES Journal Archive (2011)

Yeah, I got smacked today.

And the reason I like to take small losses is that one can always get back in at a lower price and make a killing on the next trade. That`s harder when using wide stops. At least when they`re hit

 

Short - 1201.75

Stop - 1208.25

 

Beautiful entry

What`s your target?

 

Not sure yet. My strategy kind of lets me know as I go. I was projecting 88-91 but if momentum keep up I will keep holding until the end of the day.

 

The gap fill + PP/50% is complete, but it does look weak.

Perhaps we`ll see 84 or below by the end of the day.

 

86,75 is previous week high. Potential support.

 

Maybe, maybe 81. We will see. There is nothing really stopping it. Just lots of little levels to break through.

 

Oil is pulling the market down. Oil inventories were way off of the GUESS that was posted.

 

Out 89.50

 

I have biases

15min Long
Hour short
day long


Not good for trading. I will see you guys later when it looks a little better.