Wednesday, November 13, 2013

ES pullback Long

 
5 and 1 Minute Chart
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E-Mini: ES
Long or Short: Long
Entry Point: 1759
Stop: 1757
Exit Goal: 1763
Result:W
Notes: After getting taken out on the open trade on the strong open was looking to get long. 30 Minute breakout didnt set up and was looking at the ES or NQ for a pullback to support. I liked the pullback on lighter volume and above the support.

* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE