Sep 132011
 

This morning (European morning) ES had an open drive down and I sold a pullback twice for small gains.  I joked that there was a 20 pt move and I got 2 pts of it.  But in reality, a couple 2 pointers ends up making a nice day when trading large size.  I’m not quite there yet but I’m a step closer.

Before the ES cash open I said I didn’t have a plan and I didn’t.  I tried to get short after the open but was not click enough to put my order on the DOM.  Then it made a double bottom but I was not going to fade an open drive down.  It went up and made a new high and I tweeted my one trade idea: Buy pullback to 59-60 area.  I did and that was my only trade during RTH.

This was the first day that I can remember where I didn’t take any 1 lot trades.  I was pleased with today even if I didn’t capture any big moves.

ES is in a triangle pattern.  Will be interesting to see which way it breaks out.

Good luck tomorrow and be careful.

 

  2 Responses to “A step in the right direction”

  1. hi
    what are the dots on the traingle patern?

  2. The pink dot is the pivot (based on previous bar) and the blue is the midpoint of the current bar.

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