Monday, October 14, 2013

E-Mini YM lunch time fade

Was monitoring the ES (left chart) and the YM(right chart) Took the YM for a lunch time fade.

  
Chart below shows result after the entry. YM runs to the R1 Pivot and fills its gap and Stopped. See  notes


 
5 Minute Chart: ES / NQ / YM
.
E-Mini:YM
Long or Short: Short
Entry Point: 15160
Stop: 15180
Exit Goal: 15120
Result: L
Notes: Totally misplayed this trade. I have a rule of always fading at resistance. NQ had resistance but YM and ES still had room to run to resistance. 

The indexes gaped down into support. My pre-market work had favored a NQ gap fill but not for the ES and YM, I was wrong. At lunch time NQ was at resistance and ES and YM  where approaching a possible double top. The gap fill was a magnet and was stopped. New chess board on Tuesday.

* Feel free to post any trades you made today that you would like commented on.

 

2 comments:

Doug A. G. said...

Nice to see you're back "How I Day Trade", how's you're respite? Hope you will post more ideas from your end?

How I Day Trade said...

Thanks Doug. I missed blogging, would have stayed with it if I got more comments.

Do you trade the e-minis?

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