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2011.03.17 ES Resistance

17. March 2011
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ES 60-min - Beware the downward trend line we are hitting. 

neoEminiStrategy

2011.03.15 ES Symmetry Pullback Example

15. March 2011
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ES Weekly - The ES found support at the 1252 area based on symmetry from the pullback seen in August 2010.  In the chart below, the two blue arrows are equal.  Higher from here or just temporary?

 

neoEminiStrategy

2011.01.25 - neoEmini Trade Summary

25. January 2011
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Tuesday - Record number of setups today.  10!  So far, we've stayed sideways since Friday, with the 1278.75 area and 1288.50 area confining the action (areas mentioned in the last couple posts).  Perhaps Obama's address tonight will give us the little push upwards that we need.  If we retest today's lows again, I would be surprised to see them hold again.
 
 
Checklist:
  1. Today's Target Size: 3pt
  2. Gap Filled? Yes (1287.75)
  3. POC Hit? Yes (1286)
  4. Naked POC and unfilled Gap Fill hit from 1/21? Yes (1277.25)
  5. Tomorrow's Gap Fill: 1287.50
 
Based on the chart above:
  1. PARTIALLY WORKED: Short PP: Target of 12T, went 11T (1T from target), so I am tempted to say this trade worked.  (Would've wanted to go long from S1 down here, but didn't quite get low enough.  Would've worked beautifully, though.)
  2. WORKED: Long PP: Due to the news coming out at 9am, entry would've needed to be a little aggressive (not waiting for the second 5min bar to completely close above the PP).  However, targets were hit almost immediately.
  3. FAILED: Long PP: We had our two closes above the PP, but market fell against us.
  4. FAILED: Long S1: Ouch, 2nd loss in row.  Support at S1 just wasn't found, but instead made its way down to a level shown in the chart below.
  5. WORKED: Long S1: After hitting the low support shown in the chart below, we ride the continuation of this upward move up to the PP
  6. WORKED: Short PP: At this point of the day, the TPP was lower than the PP, thus making the short off the PP valid.
  7. PARTIALLY WORKED: Long S1: Since trade #5 made its way all the way to PP, it made going long off S1 valid again.  We were looking for the 12T, but we only got 9T.  Close enough to grab some partial profits.  When S1 was hit once again, it would've meant three longs in a row off S1, which is against our rules, thus was passed on (which was the right thing to do!)
  8. WORKED: Long off Naked POC and unfilled Gap at 1277.25.  These naked POCs and unfilled gaps are almost always a winner.  Definitely a high percentage trade.  We made our way back up near the S1, which was our exit area.
  9. WORKED: Long S1:  Due to us making our way lower than S1 and hitting another support level down there, it makes this S1 level valid to take a long again.  Also, this trade is in the direction of the PP, which the market likes to trend toward late in the day.
  10. PARTIALLY WORKED: Short PP: Risky, since we are within the last 30-45min of trading, but offered some profit regardless. Trade went 8T of our target of 12T.  Knowing this was a risky trade going in, it would've been easy to catch 4T-6T.
 
As mentioned above, there was an "invisible support" around 1278.75.  Below may offer a potential answer.  On the chart below, if you look only at the blue arrows, it shows the range from yesterday's close (1288.50) and the PP (1285.25).  We'll call this "1 unit" of movement.  If we extend this unit of measurement upwards and downwards (red arrows) we find some price levels where the market seemed to rotate today.  Notable areas are indicated with a small black arrow.  The overnight trading has a light blue background.  
 
You can see that the overnight high was found two units above the PP and rotated down 2 units below the PP (around 1278.75, with an additional push to fill the unfilled gap of 1/21 (not shown)).  Very interesting!
 
 
 
 

neoEminiStrategy

2011.01.24 - neoEmini Trade Summary

24. January 2011
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Monday - No news made for a rocky start, but the bull movement continues. 

Checklist:
  1. Today's Target Size: 3pts
  2. Gap Filled? Yes (1280.25, on top of the PP)
  3. POC Hit? Yes (1282)
  4. Tomorrow's Gap Fill: 1287.75
 
Based on the chart above: 
  1. PARTIAL WIN: Long PP: Due to the open near the PP and the Gap Fill, our rules say to let the first 5min bar form to give us our direction.  The first 5min bar showed strength and closed above the PP, thus the setup was long off the PP.  After going 8T of our 12T target, we had a pullback and a second opportunity to enter (1b).  This pullback shaked us out of the original entry, but not on the second entry.
  2. WORKED: Short R1: Very long trade that took about 3 hours to play out, but eventually hit the target.  It did get a little scary for a moment there, but it eventually worked beautifully (1T past the target before rallying into the close).

 

The levels mentioned in recent posts (1288.50 resistance and 1278.75 support) played a part once again today.  Ultimately we see a break above the 1288.50 level for a continued move higher.  Where and when will the market find a top?  We don't need to know.  We just stay with the trend till it ends.  As for now, the support levels keep working.  See the updated ES 120min chart below.  

 
 
 

neoEminiStrategy

2011.01.21 - neoEmini Trade Summary

21. January 2011
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Friday - Not much in terms of news, but still some great setups! 

Checklist: 

  1. Today's Target Size: 3pts
  2. Gap Filled? No (but it felt like it wanted to all day.  Came within 5T)
  3. POC Hit? No (same level as the GF at 1277.25)
  4. Naked POC from 1/20 hit (1283)?  Yes
  5. Tomorrow's Gap Fill: 1280.25  

 

Based on the chart above:  

  1. MISSED: Long R1: Came within 1T of entry, so not triggered.  Would've worked beautifully, though! 
  2. MISSED: Short R2: Same story.  Came very close to entry, but not triggered.  Again, would've worked beautifully.
  3. WORKED: Short R1: Since the first 30min had passed and we were only looking for shorts afterwards, it made sense to wait for the short setup off R1. Due to the first push making new lows, the setup gave a second chance to enter at 3b.
  4. WORKED: Short R1: Since setup #3 pushed to new lows (and the gap fill wasn't hit), it made re-shorting it valid.
  5. PASSED: Short R1: Even though setup #4 pushed to new lows, this would've been the third short off R1, making it just to risky for a Friday afternoon.  Thus, I passed.  However, with enough patience, it worked anyway!
 
Even with missing two winning setups in the morning and passing on winning setup in the afternoon, the two 3pt winners brought a total of 6pts per contract!  With two measly contracts, that's $600.
 
From a higher level (120min chart), the fib levels mentioned in the last post marked the high and low of today.  As you can see from the chart below, we found resistance at the 27.2% level (1288.50) and support at the 61.8% level (1278.75). Once again, this fib projection is taken from the 11/25 high to the 11/29 low, then projected from the recent highs on 1/18.  Don't be fooled, the bull market is still in play.
 

neoEminiStrategy

2011.01.20 - neoEmini Trade Summary

20. January 2011
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Thursday - Record setting day! 

Checklist: 

  1. Today's Target Size: 5pts
  2. Gap Filled? Yes
  3. POC Hit? No
  4. POC and Gap Fill from 1/12 hit (1270.50)? Yes!
  5. Tomorrow's Gap Fill: 1277.25 

 

Based on the chart above: 

  1. WORKED: Long S1: After quickly falling from the open, we had a very nice pop off S1, right to the next setup.  We also had the unfilled gap and naked POC at 1270.50; right here at this S1 to help with the support.
  2. WORKED: Short Custom level: Certain days have very large distance between the pivots.  Today, there was 13 points between S1 and the PP!  This makes hitting more than one pivot pretty rare.  Thus, we use a calculated level in between those pivots.  This came to 1278.25, which was perfect for this short.  This level is automatically calculated and drawn by the neoEmini script.  You can see this very thin line directly above the #2 on the chart.
  3. PARTIALLY WORKED: Long S1: Went 3 points into our favor (of a 5 point target).  Since this was a second push off S1, it makes it more risky and thus taking partial profits makes sense.  Worst case, a break even.
  4. WORKED: Long S1: After we went down and hit the higher level symmetry at ~1268 (see image below), there was much more support for the long side, which made this long off S1 higher probability.
 
Given the target size for today, these setups yielded ~15 points per contract!

 

 
ES #F 120min - As mentioned above, we came right to the symmetry level based on the pullback made in late November (left blue arrow).  In the above chart (120min chart), the two arrows are the same length.  This put support at 1268.  Today's low?  1267.50.  Nice!
 
 
 
 

neoEminiStrategy

2011.01.12 - 2011.01.19 - neoEmini Trade Summary

19. January 2011
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Wednesday -  2011.01.12, Sometimes there aren't many setups.  Sometimes the setup fails.

Checklist: 

  1. Today's Target Size: 2 pts
  2. Gap Filled? NO (1270.50)
  3. POC Hit? NO (1270.50) 

 

Based on the chart above: 

  1. FAILED: Short R2: Due to opening near R2 at the open, it made sense to wait for the first 5min to pass before entering.  Unfortunately, this retest of R2 paused and eventually failed.

 



Thursday -  2011.01.13

Checklist: 

  1. Today's Target Size: 3 pts
  2. Gap Filled? Yes
  3. POC Hit? Yes 

 

Based on the chart above: 

  1. WORKED: Long PP: Started out a bit mess, but eventually worked
  2. FAILED: Long PP: Most of the day's activity was above the PP, which made this setup pretty high probability of working.  Unfortunately, it hit our stop before working.
 
 
 
 

Friday -  2011.01.14

Checklist: 

  1. Today's Target Size: 2 pts
  2. Gap Filled? Yes
  3. POC Hit? Yes 

 

Based on the chart above: 

  1. WORKED: Long S1: Worked quickly!
  2. WORKED: Short PP: Also worked quickly.  We didn't break any previous swings, so we don't retry shorting R1 again
  3. WORKED: Short R1: Another rather quick working trade.  We didn't break any previous swings, so we don't retry shorting R1 again
  4. WORKED: Short R2: Went 6T in our favor (8T target), but ran out of day.  Money management would've given you a partial win or a BE
 
 
Monday - 2011.01.17, MLK HOLIDAY (Though, there was a setup for a long off the PP, which would've worked if held after hours!)

 
 
 
 

Tuesday -  2011.01.18

Checklist: 

  1. Today's Target Size: 2 pts
  2. Gap Filled? Yes
  3. POC Hit? Yes 

 

Based on the chart above: 

  1. WORKED: Short R1: Worked quickly!
  2. WORKED: Long PP: Right up to R1 again
  3. WORKED: Short R1: Since we made a new low and made it all the way to the (ultimate) target of the PP, shorting the R1 was valid again.  However, shorting the same level 3 times within a single day is NOT, so we do not take the next short off R1.  However, this third hit to the level did give about a point of profit before going against and ultimately running out of day.
 
 
 

 

Wednesday -  2011.01.19, The weak looking overnight action made me feel like we would pullback all the way to the larger symmetry support at 1279.50, which we did.  Coincidently, very close to S2!  The 1.272 pullback was at 1275, which was very close to S3.

Checklist: 

  1. Today's Target Size: 3 pts
  2. Gap Filled? Yes
  3. POC Hit? Yes 

 Based on the chart above: 

  1. WORKED: Short PP: Worked quickly!
  2. FAILED: Long S1: I had low hopes due to larger support below.
  3. WORKED: Long S2: Very close to the symmetry found at higher levels at 1279.50, so it wasn't surprising that this trade worked.  We didn't break previous swing highs, so taking a retest of S2 afterwards would be risky... wise move!
  4. WORKED: Long S3: Hit entry level to the tick, so without MIT orders, it may have been difficult to get a fill.  Made its way back up to S2.
 
 
 
 

neoEminiStrategy

2011.01.11 - neoEmini Trade Summary

11. January 2011
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Tuesday -  A little tricky, but rules held firm.  Still in the same sideways movement from the past 6 or so sessions, between around 1258 and 1274.

Checklist:

  1. Today's Target Size: 2pts
  2. Gap Filled?  Yes. (eventually)
  3. POC Hit? No (1261.25)
  4. Wednesday's Gap Fill: 1270.50
 

Based on the chart above:  

  1. WORKED: Long R1, Due to the setup happening within the first 30min, it made this long valid.  Very tricky, since it chopped sideways back and forth through R1, but eventually hit the 2pt target and then up to R2.
  2. WORKED: Short R2.  Now that we were out of the first 30min, we were back to shorting toward the pivot.  After going 7T into profit with a 8T target, it was difficult to not get trailed out with a break even.  Due to this move down not breaking any past swing lows, it made re-entry on R2 very risky (2b).  However, hanging tough and putting your stop right outside R2 paid off, as it fell like a rock.  The fact that R2 was right at the top of the recent high we've seen the past 6+ sessions, made this short feel safer.
  3. WORKED: Short R1, we were not interested in taking a long off R1, but only a short.  This required waiting for two 5min bars to close below the level and entering on a re-test.  We got just that at #3, which hit the target and the gap fill.
  4. WORKED: Short R1 again, due to us making new lows for the day and breaking previous swing lows, made this short valid.  Plus, the fact it was late in the day and this setup was in the direction of the PP, helped as well.  Unfortunately, it went 7T and not quite to the 8T target, so it didn't amount to a very large win, as your trail would've been hit... but positive none-the-less.
 
 
As with unfilled gaps, when a POC isn't hit (leaving a "Naked POC"), there's a good chance it will be hit tomorrow.  Keep an eye out for 1261.25 tomorrow.
 

Good hunting traders! 

 

 

neoEminiStrategy

2011.01.10 - neoEmini Trade Summary

10. January 2011
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Monday -  No news events today, so a range bound day was not surprising.  We can't seem to break out of the range we've been in the past six or so sessions... which isn't a bad thing, as it brings about more predictable movements.

Checklist:

  1. Today's Target Size: 4pts
  2. Gap Filled?  Yes. (eventually)
  3. POC Hit? Yes.
  4. Tuesday's Gap Fill: 1266.25
 

Based on the chart above:  

  1. WORKED: Long S1, after a 2pt pop, offered a second chance to get in (1b).  Eventually worked its way to the target as well as up to the PP
  2. WORKED: Short PP.  Not a full winner (didn't hit 4 pt target), but did offer some profit.  After going 2 pts our way, it offered a second chance to get in (2b).  Unfortunately, this second chance wasn't too profitable, as we ran out of trading day and would be forced to exit.  However, after hours did see at least a 2 point fall.
 
Good hunting traders!
 
 

 

neoEminiStrategy

2011.01.07 - neoEmini Trade Summary

10. January 2011
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Friday - Due to yesterday's consolidation, today's target became much tighter (only 2pts) 
 
Checklist:
  1. Today's Target Size: 2pts
  2. Gap Filled?  Yes.
  3. POC Hit? Yes.
  4. Tomorrow's Gap Fill: 1267.50
 

Based on the chart above:  

  1. WORKED: Long PP, very quick trade, which hit the target and not much more.
  2. WORKED: Short S1
  3. WORKED: Long S1, late in the day, so looking for moves toward the PP
 
 

 

neoEminiStrategy

2011.01.06 - neoEmini Trade Summary

10. January 2011
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Thursday - Back to the winners.  After the Nasdaq broke above its double top, we had a bit of consolidation. The open occurred about halfway between the PP and R1, which ultimately acted as resistance and set us up for the first trade. 

Checklist:
  1. Today's Target Size: 4pts
  2. Gap Filled?  Yes.
  3. POC Hit? Yes.
  4. Friday's Gap Fill: 1270.25
 

Based on the chart above:  

  1. WORKED: Long PP: Very long trade that eventually worked out.  We made slightly higher highs and gave us a 2nd opportunity to get in or re-enter (1b).  This trade found resistance at the halfway points from PP to R1 (dotted line), which would've worked great as a short.  4pts on the long is good enough.
 
Good hunting traders!

 

neoEminiStrategy

2011.01.05 - neoEmini Trade Summary

10. January 2011
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Wednesday - Can't win them all.   The Nasdaq has fully retraced everything from the financial crash.  While flirting with the double top, the Nasdaq made its move above it, and the S&P with it.  Unfortunately, my setups didn't have a chance.  However, we opened right on top of the Camarilla's S3 pivot, which acted as support, all the way to the Camarilla R4 level (not shown).

Checklist:
  1. Today's Target Size: 3pts
  2. Gap Filled?  Yes.
  3. POC Hit? Yes
  4. Thursday's Gap Fill: 1272.75
 

Based on the chart above:  

  1. FAILED: Short PP.
  2. FAIL: Short R1.
 
 Tomorrow's another day.

 

 

 

neoEminiStrategy

2011.01.04 - neoEmini Trade Summary

4. January 2011
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Tuesday - Back to the "buying of dips" mode.  Today's Low was right on the symmetrical target.  See the chart below.
 
 
Checklist:
  1. Today's Target Size: 4pts
  2. Gap Filled?  Yes.
  3. POC Hit? Yes (came within 2T)
  4. Yesterday's Naked POC hit?  No
  5. Tomorrow's Gap Fill: 1265.75
 
Based on the chart above:
  1. WORKED: Short PP:  Trade went 9T, then bounced back up to retest the PP.  Since that initial move made a new low, it kept this short valid, allowing a second chance to enter this short (1b).
  2. WORKED: Long PP: After the symmetrical support was hit around 1257.75 (see chart below), there was a change in bias.  This gave us more confidence about a long off the PP.  There was a second chance to enter this trade at 2b.  Unfortunately, we ran out of trading day and was forced to exit the trade.  This trade went about 7T in the green, so at least some profit was to be had.
 
Below is a 60min, RTH chart.  It shows the symmetrical support found at 1257.75.  Both blue arrows are the same.
 
 
 
 
 

neoEminiStrategy

2011.01.03 - neoEmini Trade Summary

3. January 2011
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Monday - What a pop!  With the holidays behind us, we are getting some volatility back into the market.  Today's rally was one that we haven't seen in awhile.  We actually opened above Camerilla's R5 level, which we haven't done since 12/7 (12/1 and 11/18 are also examples).  Also, the tight Value Area and Central Pivot Ranges that we've seen recently was just asking for a breakout (or at least a trending morning).  
 
 
Checklist:
  1. Today's Target Size: 2pts.
  2. Gap Filled?  No.  (The first trading day of the month makes gap fills less likely)
  3. POC Hit?  No.  (POC was on top of the Gap Fill)
 
Based on the chart above:
  1. FAILED: Short R3:  Dangerous from the start.  Due to the reasons mentioned above, regarding recent small Value Areas, tight Central Pivot Ranges, and it being the first trading day of the month, it is not surprising that we continued to rally in the morning.  Knowing this, waiting for a break above R3 and going LONG on a retest, was the more prudent thing to do (1b).
  2. FAILED: Short R4: Same reasoning as above.  We had a reaction of about 5T on the short, but that wasn't enough to hit today's target size.  Waiting to go long off R4 made more sense.
  3. WORKED: Short R4: It became later in the day and the market rolled over with a rounded top, making the break below R4 ripe for a short.
  4. WORKED: Short R4 again. Due to the setup happening so near the close, this wouldn't be recommended.  However, it worked beautifully, so I thought I'd at least mention it.
 
Hope everyone had a great start to 2011!
 
 
 

neoEminiStrategy

2010.12.31 - neoEmini Trade Summary

31. December 2010
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Friday - Regardless of it being News Years Eve, the setups keep working!  Gap Fill and the POC overlapped.

Checklist for today: 

  1. Today's Target Size: <2pts 
  2. Gap Filled?  Yes.
  3. POC Hit?  Yes.
 
Based on the chart above:
  1. WORKED: Long S1: Went against a bit, but stop not hit.  Later, there was a second opportunity to enter this trade (1b).  Either way, it worked.  Went to the POC/Gap Fill, then eventually up to the PP and the top of the Value Area (1255).
  2. WORKED: Short PP:  Due to so much occurring at this area (POC, Gap Fill, PP, and the top of the Value Area) it made shorting the PP a good bet.  There was an opportunity to get out at +6T, but if not there, just sitting tight eventually got the targets hit.
  3. WORKED: Long S1:  VERY late in the day, so very risky, but valid and it worked (and quick!).
 
Have a Happy New Year!!!
 
 

 

neoEminiStrategy

2010.12.30 - neoEmini Trade Summary

30. December 2010
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Thursday - A bit tricky, depending on your entries, but all worked out regardless.

Checklist: 

  1. Today's target size: <2 points.
  2. Gap Filled?  Yes.
  3. POC Hit?  Yes.
  4. Yesterday's Naked POC Hit?  Yes.
 
Based on the chart above:
  1. WORKED: Short PP:  Temporarily went against to hit the POC, which acted as a second or better place to short (1b).  Either way, the short worked.
  2. WORKED: Long S1: Yesterday's POC was not hit yesterday, so we ended up hitting it today (level indicated on the chart).  Much like trade 1, the POC acted as a better entry level (2b), but either way eventually worked.
  3. WORKED: Long S1:  If you went long at S1 in trade #1, then you'd still be in that trade.  Otherwise, this was another chance to go long off S1.  Went perfectly to the PP

 

 

Good hunting traders!

 

 

 

neoEminiStrategy

2010.12.29 - neoEmini Trade Summary

29. December 2010
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Wednesday - Test of patience.  The target for today was less than 2 points, so shooting anywhere for 4T-8T made sense.

Based on the chart above:

 

  1. WORKED: Long R1: After flirting with R1 for awhile, I waited for the first bar to give an indication of the direction.  Regardless of this going against the gap fill, this trade worked... but required patience!  Due to the location of the short at R2, it made sense to aim for 4T-6T to be ready for the short at R2.
  2. WORKED: Short R2: Once again, very slow, but never went against a single tick.  As expected, it finally fell for a good trade.
 
Good hunting traders!
 
 

 

neoEminiStrategy

2010.12.28 - neoEmini Trade Summary

28. December 2010
Comments (0)

 

Tuesday - The POC fell right on top of the Gap Fill and offered some stiff resistance for multiple hours after finding support on the PP.

Based on the chart above:

 

  1. NOT FILLED: Short R1: After finding resistance on R1 at around 6am CST, there was not a retest after the market opened.  Thus, there was no entry, but the idea of a short worked, regardless. 
  2. WORKED: Long PP: Hit the entry level multiple times, to the tick.  This trade took many hours to unfold, but eventually hit today's 2pt target (and more).  The POC was the main obstacle to making it higher.

 

 

 

 

neoEminiStrategy

2010.12.27 - neoEmini Trade Summary

28. December 2010
Comments (0)

 

 

Monday - Final week of the year... more thin trading, but setups still working regardless.

Based on the chart above:

 

  1. NOT TRIGGERED: Support on S2 was found at approximately 6:30am CST and not hit again after the market open for an entry.  Would've worked, however.
  2. WORKED: Getting a fill may have been difficult, but the entry level was hit to the tick and went 7T in the green.  Based on the <2pt target for today, this is not surprising.  This trade shows the benefit of using a MIT (Market If Touched) order, since it did not go "through" the entry level to guarantee a fill.
  3. WORKED: This trade took 2 hours to unfold, but stayed in the green for most of the whole trade... only 1T against at any given time.
 
 
 
 

 

neoEminiStrategy

2010.12.23 - neoEmini Trade Summary

28. December 2010
Comments (0)

Thursday - Final day before the Christmas break.  More thin and slow trading.

Based on the chart above: 

  1. WORKED: (eventually)  Following our rules as exactly as possible, gave us one winner.  It meant suffering through a couple pullbacks, putting the trade into the red temporarily, but the stop was never hit... and the target was.  The POC offered support for many hours during this trade (black line), till it broke with some force.

  

Good hunting traders! 

neoEminiStrategy

2010.12.22 - neoEmini Trade Summary

22. December 2010
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Wednesday - As we get closer to Christmas, the movements are getting slower and choppier.  Only one real setup and a break even.

Referring to the chart above: 

  1. WORKED: Short R1 for 2 points.  Due to the resistance that occurred 1pt below R1 (shown with the red line), it was wise to watch the reaction to R1 before actually getting short.  Often when there is resistance like this, so close to a pivot level, when it does eventually break up, it breaks through the pivot completely.  Not surprising, due to the low volume and slow movement, this pop was limited.  However, you can still see this phenomenon in the chart above.
  2. WORKED: Short R1 again.  Risky, since it was so late in the day.  Eventually forced out due to the day ending for little to no gain. (arrow is actually drawn a little too far right.  It should start where the "M" is about 6 bars back.)

 

Good hunting traders! 

 

neoEminiStrategy

2010.12.21 - neoEmini Trade Summary

21. December 2010
Comments (0)

Tuesday - Painfully slow day, which only gave 2 setups.

Referring to the numbers in the chart above:
 
  1. FAILED: Short R1, after a strong break above R1 it gave us a heads up to reverse, leading to a 1pt loss.  I expected this trade to work, since it was in the direction of the gap fill.  However, the support at 1241 at yesterday's close seemed good enough to keep the market rallying all day.
  2. WORKED: Long R1, reversing the first trade led to a very long and slow climb, hitting the 3pt target.
 
 
Today's High hit the symmetry shown in the chart below (both arrows are equal):
 
 
 
 
 
Good hunting traders!
 
 

neoEminiStrategy

2010.12.20 - neoEmini Trade Summary

20. December 2010
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Monday - There were many setups today based on the pivots. However, using symmetry at a higher level, there was one great long (Trade 3).

Based on the numbers in the chart above:

1. FAILED: Long R1: We gapped up above R1, which meant the gap fill was below us.  This also meant any long off R1 would be risky, so it's no surprise it failed.

2. WORKED: Short R1: After breaking below R1, there was a retest to enter short. 

3. WORKED: Long PP: After a pop up to the gap fill, holding on allowed for a 2nd chance to get it (3b) for a trade that eventually worked.  The low of this trade hit the 1:1 symmetry as shown in the chart below.

4.  FAILED: Short, R1:  Since there was support found using symmetry at the higher level (see chart below), it's no surprise that R1 failed.

5. WORKED: Short R2: Using our rules to trade in the direction of the pivot, even though this trade got a little scary, it still worked.  There was a second chance to enter at 5b.

6. WORKED: Short R2: Another chance to enter this short.

 

neoEminiStrategy