Welcome to neoToolbox.com! Your home for professional tools and scripts for use with eSignal. If you need any custom eSignal scripts (EFS) built, feel free to contact us.

Disclaimer: By downloading and using any of our studies or visiting our blog, you agree to the following disclaimer:  
 
Past performance is not necessarily indicative of future results. The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. All blog posts are merely a collection of thoughts and opinions and are not buy and sell recommendations. neoTOOLBOX.com does not guarantee results, information, or EFS studies and scripts in any shape or form.

2011.01.11 - neoEmini Trade Summary

11. January 2011

 

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