ES2008011201

Nice start for the week. I congratulate myself for holding the trade till T2 met.

RR for T1 is 1/2

RR for T2 is 1/9

Love this multi car thingy, its more pleasing to the mind to hold on 2nd car for large target once I offload 1st car. I know that I can't get negative for the trade with the profit made by 1st car.

ES20080105

Nice start for the year, making 9pt/car. Its the best trade I ever have.
Price tested 918 in Globlex trade, test it again when market open forming a double bottom, this also form ORL30. Px break up with volume. this appears to be a good entry with a small 2pt stop. 1st target is ORH. 2nd target is the tip of price consolidation area of previous trading day.
Happy with what pan out.

Anek visited, thanks for SpacterX, here's the chatlog.

[20:33] Hi
[20:33] Ive been postponing my vacation for a while since the VIX has been so nice
[20:33] and since tomorrow is OEX i decided to take it tomororw, least break from trading
[20:33] http://i39.tinypic.com/10wr321.png
[20:34] those were my trades today, coveres were 86 and 75
[20:34] short started from 918 yday
[20:34] all were live calls in the room in case you are one of those hmmm skeptical ones
[20:34] just wanted to drop by and post it here
[20:34] since I'll be taking a sabatical
[20:34] figure it can help

[20:35] Ya gonna spend a few weeks with the kids
[20:35] Market kind of slows down during this time due to holidays
[20:35] but with this financial turnmoil and chaos you really never know
[20:36] for what is worth 981, 885 and 875 were taken from the anchor 100k
[20:36] 981, sorry should read 918

[20:41] [14:24] <@Anek> T1 hit +31 +19.25 on the add
[20:41] [15:24] <@Anek> Target 2 Hit +43 and +31 on add
[20:41] prob 1 min late
[20:42] ES
[20:42] Dont worry, i took 6 shorts trying to nail that trade this week
[20:42] Until I finally caught it
[20:42] so you were holding from like 917?
[20:43] 918
[20:43] then the adds from intraday today
[20:43] if you want to see why 918 885 and 875 were pivots, try the 100k anchor ES
[20:43] they will stand out like sore thumb

[20:43] Well price has this habit of simply going from pivot to pivot
[20:44] And precisely at these pivots is where you should start to initiate the trades
[20:44] That way your entry is protected by support or resistance and if possible by price action
[20:44] I havent scalped in prob over 6 months
[20:45] Just sticking to the big winners

[20:48] Ya during the pivot you got different choices
[20:48] You can take it point blank, assuming its a super obvious pivot
[20:48] Wait for volume exhaustion, huge volume bar spiking in the 1 min, 30 sec, 5 sec, yoru choice
[20:48] Or you can be more conservative and just wait for a confirmed reversal formation
[20:49] Whether thats a DT, DB or just a simple flip of S to R or R to S
[20:49] Remember no matter how crazy the call looks you are always protected by your stop
[20:49] Now, if you are shorting a pivot, you dont want to cover 5 min later, you really want to kill it, after all, you are shorting an R pivot
[20:50] And vice versa for S pivots
[20:50] And remember that price way of travelling is from pivot to pivot
[20:50] it just does not like to stop in mid air
[20:50] Heavy supply and heavy demand always show up at mega critical areas
[20:51] Whether they end up holding or not, thats another story

[20:54] Ya I dont have a problem holding overnight
[20:54] I do have a problem holding over the weekend, nothing I can do
[20:55] I think the 918-920 area is key
[20:55] Until the market makes that area support market has no chance of a rally
[20:56] Support is not as clear
[20:56] There are multiple "layers"
[20:56] And an unfilled gap around the 803 area
[20:56] However, many believe in Xmas seasonality and are expecting an EOY rally but unless that 918-920 becomes support, its not going anywhere but down or sideways
[20:57] If you examine the big charts with detail you will notice this 920 also corresponds to the neckline of a big inverse head and shoulders
[20:57] and again, until the neckline becomes support, its not going to rally
[20:57] they could pierce it to 940
[20:58] if that happens watch the retracement closely
[20:58] as you do want 920 to be a clear sign of support
[20:58] otherwise it could be a fake
[20:58] Thats about all I call tell you from ES right now
[20:59] ya it still does look like it wants to re-try
[20:59] but better to react instead of predict, always
[21:00] Ya heard about it, good community effort, best think you can do is work as a team
[21:00] thing
[21:00] Anyway, wanted to stop by, drop the chart and wish you all happy holidays

ES2008120801

Took 1 long trade today. Entry was at a R wanting it to turn S. Px hit through my entry px and nearly took out my stop, it was near COD of the pivot that I'm looking at 28/11.
28/11 COD and HOD is very close, both in term of time and px. Worth to take another look at relationship of COD and HOD/LOD when they are so close.
Took 1 car out @ 50% retracement, had too many trades turn at this juncture. 2nd car out when price stall plus the end of OR15. This was a right move as price turns here after.

Last Friday's trade should be a good trade if only I pay more attention to px. the support level was 818 and not 817 that I'm targeting for, may be time to buy a bigger monitor. ;)

ES2008120501

1 trade 0.5pt/car

ES2008120301

Wasn't sure why, keeping looking for short around the highlighted area. Was a blessing that I hold my entry, wanting to see some sort of comfirmation. Px was hovering around ORH, not clear bounce that warrent a short.

It's only after market that I see that px is oscilating up, entry should be the DB @ ORL15, it's also a mini 2B.

ES2008120201

Px didn't move up to 837-845 range when market open.
Took a short when px move to this range, out with -3pt/car.

ES20081202 - Pre Market Analysis

This is my take for the day.

Price gap up in after hour trades.

Touching ~837 S turn R level.

I will be looking hard on px between 837-845 for a possibility to short.

Target for short is around 815. A good 20pt target.

Px is now 833. Lets see how's things work out