midday report -futures trading 08-11-08

By , 11 August, 2008, No Comment
ESU8 08-11-08

I did not trade the pre market today, instead I started at 8:30am on the S and P 500 e-mini. As you can see from the chart it was a day where the market rose slowly, and turned south just before noon. It was a futures traders dream, really…except that the market really didn’t exactly rise a lot…but for what was offered, it rewarded the trader handsomely. I took a long position as the market coasted down toward R2 (resistance level 2) and was confident the market would turn when it reached at or near r2, which it did. I several oscillators moving from short to long, and there had been a lot of action around R2. I entered at 1295.00 and stayed in most of the morning….or at least until the market reached 1306.5. 11pts@10 contracts. It was the only trade I made.
Leave a Reply

You must be logged in to post a comment.

Easy AdSense by Unreal