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ES short term trading 1-04-11


shorting into this 69 - 70 area for ultimate gap fill today but Ideal shorts are really near 73 - 74 as that is YD high area and R1 today....problem is that I'm not sure they will push it up there...

YD close and PV will be attractor I think down in the 64 - 65 area
stp out. staying on the side for now.
closed short position. Short from 63.25 closed at 59.50
Fed minutes released at 2:00pm.
Right now the objective is at 65.00 and possibly 68.00. Dangerous for this long will be if it moves below 60.00. Objectives will be void if below 58.25.

ES trading 1261.00 @ 13.25
Was long from 59.25 to 62. Now out.
ES hit the PvP at 1264.25 and currently testing it as resistance. Short term ind. are positive. Should not stay here for more than 5 minutes or indi. will start to deteriorate to neutral. If moving above 1265.00 the 1268.00 is next and possibly late in the session.

Taking partial profits at 1264.25
Protecting stop on runners now at 1261.25


ES trading 1264.00 14:22

Originally posted by i1hunter

Right now the objective is at 65.00 and possibly 68.00. Dangerous for this long will be if it moves below 60.00. Objectives will be void if below 58.25.

ES trading 1261.00 @ 13.25
Moving stp up on runners to 63.25

ES trading 1265.00 14:27
Originally posted by i1hunter

ES hit the PvP at 1264.25 and currently testing it as resistance. Short term ind. are positive. Should not stay here for more than 5 minutes or indi. will start to deteriorate to neutral. If moving above 1265.00 the 1268.00 is next and possibly late in the session.

Taking partial profits at 1264.25
Protecting stop on runners now at 1261.25


ES trading 1264.00 14:22

Originally posted by i1hunter

Right now the objective is at 65.00 and possibly 68.00. Dangerous for this long will be if it moves below 60.00. Objectives will be void if below 58.25.

ES trading 1261.00 @ 13.25

No offense but these kinds of posts don't educate me....perhaps you can give us some insight to your reasons for trades....even if it is after the fact, even if you only trade on paper. I think I speak for most when I say that we like to see repeatable methods or ideas that work over time.


With that said here is a current idea that has been a work in progress for some time. It involves the 30 minute closes. I took an agressive short on Bar "A" that had a poor close so I exited for the loss. I then took the bar "B" short and exited a bit above that yearly high I had as a target from this mornings trade and that I mentioned yesterday. Note how we could not close below that yearly high. If I had runners on ( which I didn't as this is still experimental) I would have tightened up and would have liked to see a 30 minute close below that yearly high to remain short...

See how we closed back above yesterdays low this afternoon which implies higher trade and a close above the daily midpoint ? A close now below the hour low and the low from Yesterdays RTH will flip the bias to the short side.

Let me stress that this is experimental and hopefully you folks with better brains than me can make it better. This has evolved as an idea to let trades breathe a bit more on runner contracts.
Originally posted by dubhasa

Was long from 59.25 to 62. Now out.

Click image for original size
the closes
Good point. My apologies Bruce. I am brand new to the forum and will take look. I will try to give my reasoning in future comments.
Regards.
Runners stp out. > I will stay out for a bit. My trading contraction suggest 1261.00 objective , because the price failed to overcome 1265.00
The 1261.00 will be void if the price moves above the PvP ....
The reason why I will stay aside for a bit is because the 5m chart still positive, while the 2 is not. For me to take a trade, the two have to be congruent.!

ES trading 1263.50 15:08
Originally posted by i1hunter

Moving stp up on runners to 63.25

ES trading 1265.00 14:27
Originally posted by i1hunter

ES hit the PvP at 1264.25 and currently testing it as resistance. Short term ind. are positive. Should not stay here for more than 5 minutes or indi. will start to deteriorate to neutral. If moving above 1265.00 the 1268.00 is next and possibly late in the session.

Taking partial profits at 1264.25
Protecting stop on runners now at 1261.25


ES trading 1264.00 14:22

Originally posted by i1hunter

Right now the objective is at 65.00 and possibly 68.00. Dangerous for this long will be if it moves below 60.00. Objectives will be void if below 58.25.

ES trading 1261.00 @ 13.25


thanks for understanding and nice trades
Originally posted by dubhasa

Good point. My apologies Bruce. I am brand new to the forum and will take look. I will try to give my reasoning in future comments.
Regards.