S/R Emini Journal

Here is the chart and levels:

Long 1261.50
Short 1246.75

 

If you notice the low of day on both Thurday and Friday at 1251 it might not be a bad place for a quik scalp at around 1250.50. Just guys looking for a trade. Be careful and just plan on making a quick exit. It looks like tight targets and S/L should be in order today.

4re

 

I think with all these wild swings I am going to be sitting on the sidelines at least for today.

4re

 

I don't know ... this thing is wound so tight (LH leads to even LH, HL leads to even HL) tighter and tighter, when it pops, it's gona blow!

JJ

 

You got it. Take a look at this. I am saying lower but will see.

Which way will it go....

4re

 

Yeah, I'm favoring the short side myself, surf dude is playing it Long, but he likes to trade against the trend anyway

 

B1S1 is long on his short term account right now also. But if you are watching that pennant formation you can't tell me the big players are not trading that formation also. It is too perfect right now. Which ever way it pops should be the way to go.

 

I'm currently out 2 pts on the short trade, will re-enter if a reversal setsup (system allows two consecutive losses per day).

That's OK, I wouldn't want to win all of them even if I could (you can only do that by cheating) ... and the system as it's currently designed has so much positive expectation the hardest part is keeping my focus on the market while my trades setup .

Later,

JJ

 

I never have entered a trade yet. I will go long at 1261 or short 1250.50. Good luck today...

 

Jimmy,
Did you see when the price popped out of that pennant. A lot of traders had to be watching that formation.