My Daytrading Method

Prices went down to 1308, but no execution. I do not like ET'ers front running my order.

 

Once we get to the target (1312), I'll cancel my buy-limit order.

 

Target reached: Cancel Buy-limit. Done for the day.

 

Sell 1315 based on long-term VRs.

Stop 1319

 

ES is at 1315.25. Is this a reversal or a pullback?

i say reversal.

 

Looks like we have put an intermediate-term top here.

 

Good call!

 

Thanks!!!! There were 2 calls made today.

1) Buy @ 1308, Stop @ 1304, Target @ 1312, and

2) Sell @ 1315, Stop @ 1319 and no target.

These calls were made after careful analysis and studying the price-actions for the past 3 months.

Worked like a charm. Looks like we have finally seen the top here. 1300 might provide some support because it is a nice round number, but personally I do not think 1300 will hold.

Thanks again for all your support and encouragement.

 

I agree about 1300 possibly not holding. Using a long term view of MP, from 1/3 to 3/31, the LVA for TPOs is about 1296, however, using volume and not TPOs the LVA would be about 1306.

I will be watching T&S carefully around these levels to get a sense of direction.

 

XXXskier,

I'm curious as to how you are developing your longer term MP using volume especially given that the June contract was not actively traded for much of the time period you mention... therefore volume levels would be different...Thanxxx