Wednesday, October 12, 2016

ES Fade Short off pivot

E-Mini: ES 15 minute chart - Short
Entry Point: 2136.50 (4th bar) at purple pivot point
Stop: 2138.50
Exit Goal: 2132.50

Trend down on 60 minute and 15 chart - and there was NO bounce off support (I will not short a bounce off support). NQ was weak hitting high day as support also (I like to see they are connected working as one)

Later took a stupid trade long on NQ without support of the ES - but kept to small loss.



* 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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Disclaimer

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