Sep 162013
 

Tonight I got a good setup and thought this would make a good preview of the indicators.  I’ll write more about them but on the price chart the arrows show a directional bias from the order flow.

Big picture I’m bullish, but NQ was very weak and ES broke out of its IB (orange box) to the downside so I took the pullback to get short.  I entered on the weaker retest of the bottom of the IB range.  Risk was 1 pt and target was 83.50 which was 9 pts.  This is a no brainer for me and it’s a trade I’d take every time.

2013-09-16_2115_es_trade

I could have gotten out when I saw bullish order flow when it made the higher low, but I didn’t want to take myself out of a potentially large winner so I let it go.  I had my stop at +1 tick.  This is a trade where I don’t mind stopping out.  Taking +2 or +3 pts isn’t going to make me money over the long run.

I’ll write more about the arrows soon, but there is one thing to notice in the chart.  If a signal doesn’t immediately fail, it generally has follow-through.

 

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