Tuesday, December 3, 2013

ES pullback Long

 ES 30 Minute Chart
ES 1 Minute Chart
.
E-Mini: ES
Long or Short: Long
Entry Point:1796
Stop:1795 (was 94, moved to under the support line for 1 point risk)
Exit Goal:1801
Result: L
Notes: 30 minute candle had volume and drove back up through the pivot and previous day low. Played pullback to pivot in which it held and then gave way for a one point stop. Liked 5 to 1 ratio and with trend. Take the stop move on to see how the markets develop and to the next trade. 

* 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