ES Friday 7-21-17


Plan is to look for longs as I type under 67 swing low with 69 as a first target....in general 64 - 66 is still a support zone due to bell curve on Wednesday....plan is to also take breaks of first 10 minute range today as experimental trades...here are the areas as I see them
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edit : the swing low is at 67.75 and single prints start there...sorry but will leave this post as is.....so want to look at longs under that swing...not the 67 price
added in and now looking for a 67.75 retest first
took a loser at 66.50...gonna try again
ideally in 64 - 65 zone...in the back of my mind is that 61.25 test I've been rambling on about so a bit cautious on these fades in general today
just covered my calls sold...I sold these at .67 and just bought back at .48...now if only I could get long ES to fire off
relatively big volume so best not to average in today....10 minute range is in
scaling at 67.50...front run that 67.75....this was third try on longs for me
I will not try longs again if we come out of the current 64.75 low.....odds increase for test back to 61.25 I think if that happens
calls I bought back
Click image for original size
calls001
I was so busy managing my long trade that I didn't get a chance to try 10 minute range break but I was looking to it as a potential for a second target which didn't hit and runners got stopped out ...the trade idea would have failed and the reversal would have made almost 1.5 points but even that is questionable....not a great big fan of breakout trading in general.....not doing much but if we firm up above 65 - 66 then I may try long side once more
a lot going on a 65 - 66 now.....tricky place to trade and I would wait to see if we get a nice push above and the a low vol retrace ...otherwise I think I will try to press short side as that 61.25 is calling me ........tuff to find a good lower risk trade here for me.....
seems like I am done for today....I don't like how they keep coming back and forth through yd's low and that overnight low....so buyers and sellers really battling there.....It's friday and they should get at least a whopping 10 point range but I have no clue and it is probably wiser now to wait to see what happens at the Ib highs or lows...a break from the high can add 10 points to current low...ab reak from the low subtracts 10 points from the current high.....as much I'd like to see that 61.25 print I need to realize that maybe it's just not gonna happen today...in other words I don't want to let myself get blindsided by what I think should happen......The trade idea worked as they at least made an attempt to go for the 61.25 and the options sold made money...that is all that really counts...It's ok with me to take profits and not expect perfection from these markets.....that's why it's always a good idea to come out in front of key areas if you can and your work supports it.......