I'm short 20 ES contracts here as well. Upwards is indeed the bias, just fading into that resistance for now until price shows me different. I'm watching if we stay above 13000 on the dow and 1339.50 on the ES is the line in the sand (R). Edit: Watching for the test of 37, lowering stop. Moving stop down to BE +1
sprd off my spy puts ,may have to sit on this for a week,the sell faucet,if it opened is being absorbed
ammo, on another thread, you, yourself said that since the open, there has not been one lower low on the 15minute bars. Why do you want to short a market that is in an uptrend? WIth this much buying, there is often a small retracement (early in the afternoon) that attracts another little buying spree. I'm waiting to see if 1) if there is a retracement with a little buying to follow, and 2) what happens to price in that (if it occurs) buying spree. RIght now I can't rule out 1446.50-1447.25 for high today Believe me, I am not telling anyone how to trade, I just know that the biggest losses I have ever incurred have occurred when I was either trying to pick a top in an uptrending market, or pick a bottom in a downtrending market. good trading to all. "Markets are never wrong; opinions are." J.L. Livermore
this style of trading is my bread and butter but in tough mrkts ,this is for suckers,i'm stubborn and slow to change,so i'm losing,i'm going to wait for the turn,looks like it might be a ways off now,just threw this up cuz being wrong is a big part of trading, and reading pa,and as far as telling me how to trade, all comments welcome
Last post timed out. In edit: Covered 10 contracts @1337.75 +1.50 Stopped out 10 remaining contracts. +.25 Came within 1 tick of target. 2 ticks of heat on this trade. Don't try this at home. st Edit: Watching 1340-1337 range for next setup.
Loaded for bear on the short side again. Shoulda, coulda, woulda on the last trade. That was a simple washing of the weak hands, which I fell victim to. Just a heads up as to why I fade into strong resistence areas and that ammo wasn't necessarily wrong. I allowed the pressure of being monitored move my stops too soon. But nonetheless, just showing those in doubt that watching price build in real time is not a myth IF you break it down into small bits. Note many small trades turn into longer term trades. The object is prevervation of cash, not home runs. st Edit Flat. +6.25 (ES) Taking a ES small position long here 1327.75. stop below 27 adding to position @ 1329.00 stop raised BE+1 (2:41PM)
Actually you turn catchers nailed what was probably today's HIGH. It's tough to trade that way, I don't recommend it either, but all is good today.