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insyte journal may2011


holding es short from 1343.50 for overnight trade. S/L at 1349.50. Target 1338.50. one contract.
is this buy level based on the 1.618 stretch calculation ?

Originally posted by insyte

getting close to 1318. if triggered, taking half lot profit @1320 and moving s/l from 1313 to 1317.
long now @1318. first lot tgt 1320
sold half at 1320 for +2. raising s/l on balance to 1315. next tgt 1322.
out of the trade now; +2 onf first lot; +4 on the second lot.
yes, 1318 was the 1.618 strech target; also 50 dma ...so multiple support.
Originally posted by NickP

is this buy level based on the 1.618 stretch calculation ?

Originally posted by insyte

getting close to 1318. if triggered, taking half lot profit @1320 and moving s/l from 1313 to 1317.

appreciate it
o/n trade:
buy 1320.5 or
sell at 1330.5

whichever occurs first

with 5 point s/l and 3 point target
closing the o/n short trade for a +2 point profit
shorting when @1331.50 with 4 pts. s/l
short now at 1331.5; s/l @ 1335.5
or by at 1344.5 to tgt 1347.5