ESM11 May08/09

ES is ramping up to 1342.5 on 13k contracts traded. Working short at 1343. S/L @1347. Profit @1339.

http://www.barchart.com/chart.php?sym=ESM11&t=BAR&size=M&v=2&g=1&p=I:5&d=L&qb=1&style=technical

What's your reason for this trade? Volume spike?

No, not the volume spike. It's the retrace of about 50% from 1352-1332 sell-off on 05/06.

taken profit at 1439 for a 4 point profit.

No morning coviction by buyers or sellers.
Placing a buy at 1334. S/L at 1330.

Buying when morning high,1340, taken out. Placing long at 1340.25 for a 3 point profit objective

B/O trigered at 1340. S/L @ 1336. Objective 1343.25.

Raising S/L to 1338.

Sold at 1343.25. 3 points/contracts profit. No position now.

Great Call! congrats.

Markets tracing out a low volume bull flag. Buying ES @1341 or 1344.25, which ever occurs first. S/L will be 4 points below the triggered trade. Objective 2.5 points.

Originally posted by TradeQueen

Great Call! congrats.

Thanks. Hope you did well.