0114h EST Stopped out. I am beginning to think that my initial hard stops are far too tight and aggressive. Tried to Log Roll. Unsuccessful. I think Globex sessions slow enough for me to use "Market Fill" orders. The Limit Orders are failing me in entry fills.0219h EST bought 891.75 x4 feet on 891.50, stop 890.50. Stochastics showing bearish divergence, but they have been wrong before.
Double tops vs triple bottoms.
0228h EST no fill for the 1 pt exit. Made triple tops now.
0229h EST +1 pt, 2nd 894.50 since it started at -h3, I'll take 2nd target at +h3 894.50. 3rd at 899.50 because I believe it is an up day. Place my stop 2 ticks below 100EMA on the 15 min chart which in history proved to be good dynamic resistance/support. See the chart, in the orange ovals.
0237h EST hands on 893.50, thats worrying
0239h EST yes! Punctured through 893.50. Next bar feet on 893.50. 8 min more, Need to keep cool.
0241h EST exit 894.50 x2 Stop BE. +3.88pt nett so far. Minimum daily target met.
0302h EST power failure and a big nasty red bar. Don't like this. Should I take the money off the table or just ride for 899.50?
0305h EST took the last one off with +0.25pt to pay the broker. That was one nasty down bar. +4.05pts nett
0347h EST bought 890.25 x2 upon the inverse power failure stop 889.00
0404h EST no fill for 0.75 pt insurance. This is painful!0405h EST finally 1st out +0.75 pt as insurance, stop 899.50. Square off if it returns to meet the swing low. Taking this as a position trade to 901.50 objective. If it has trouble overcoming the higher high 895.00 and comes down below 893.50. I'll bail. Why my analysis to exit at the objective 901.50? We had a contracted range yesterday at 9.75 pts. If we take the last swing high on 20 June and the yesterday's swing low(hope it stays that way as a swing low), the 50% retrace is 903.75. We should get a wider range today, at least 15 pts. 888.25 low + 15 pts is 903.25
0409h EST slammed into the 100EMA on the 15 min. Which also sits the objective 891.50. Need more bull power to punch through.
0413h EST great! broke it. Now the 100EMA should become support. On the 30 min chart ES has been making higher highs and high lows since the 884.25 low yesterday. Hope she continues.
0513h EST so far the 100EMA on the 15 min has been providing dynamic support. It is sitting on the 891.50 objective. It is flat and not trending. Only the 54EMA that has been showing a positive gradient. It is approaching 895.00, shy of a tick. The moment of truth.
0537h EST met 895.00 and rejected with a long red spinning top followed by a white doji. That is worrying. Stop 890.50. I am well below the 100EMA and 54EMA. I want to give a chance to myself for being right. But if I am wrong on my analysis, I am wrong and pay the broker for my trading fees. It must break the double top at 895.00 for this to work out.0557h EST triple tops on 895.00. I am not hopeful but still keeping this position trade. Need the bulls to continually attack 895.00.
0638h EST I see why there is a problem going past 895.00. This is the 15 min chart for the past few days. Fight or Flight? That is the question. Will the bulls overcome the bears heavily defended position?
0723h EST Hurray! The bulls overcame 895.00 and exceeded the 896.50 objective. Now ES needs to close above 896.50 to confirm that it is really going up.0812h EST Even though the bulls succeed in denting the 895.00 resistance the bears put up, there is no close above 896.50. The inverse could be true, that 896.50 could be the high of the day and ES goes downhill from here.
0837h EST Big white bar! Must be the Durable Goods Order news. Very long and extended. Exit at 900.00 too much at stake. +14.37. Done for the day.
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