Archive for August, 2009

ES Emini Trading: Trade the Closing Price

By trader7757, 31 August, 2009, No Comment

Today’s chart, which should be directly below this post, illustrates something that I have a strong belief. I don’t know that my view is controversial, but as I watch people trade, not many are able to adhere to this simple principle: You are only interested in opening and closing prices in the time period you are trading.

ES Emini Chart for 8-31-09

By trader7757, 31 August, 2009, No Comment

I stayed out of the early action as the market fell out of bed on poor performances in the Asian market and elsewhere, with the exception of Japan. True to form, 9:30 brought some quick action as I was able get a quick long trade and fade it on a short trade. From that point on the market was choppy and uneven, and I burned a trade when I became impatient.

Todays Pivot R1,R2, S1 and S2

By trader7757, 31 August, 2009, No Comment
ESU9
For 08/31/2009

How To Use
Symbol R1 R2 Pivot S1 S2
ESU9 1036.83 1046.17 1029.42 1020.08 1012.67

Fed and other pertinent announcements

Chicago PMI
[Report][Bullet
9:45 AM ET

Farm Prices
[Bullet
3:00 PM ET

I wrote a little on pivots, support and resistance yesterday that might be worth a good look for newer traders.

For bond traders, be aware of the new tick change value, from 1/64 to 1/32.

Technorati

By trader7757, 30 August, 2009, No Comment

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