Posts tagged ‘emini chart’

ES emini trades for July 16, 2009

By , 16 July, 2009, No Comment
emini trading chart ESU9 for 7-16-09

emini trading chart ESU9 for 7-16-09

Charts courtesy of AMP Trading, get a free demo account and paper trade

Very enjoyable day to trade on the es dow emini, especially the afternoon session, which proved to be profitable.  There is no better feeling that being on the right side of a long protracted trade.  The morning was a little choppy and I eeked out a few decent trades, and a loser, but the action was fast and interesting.

I was paying fair close attention to the divergence line on the MACD as the market wanted to change directions early on, and I hate to overstay my welcome in a trade because it usually spells bad news, so I was a little slow to get in and quick to get out, when possible.

There were a variety of banking and financial concerns buffeting the market today, and I had to focus on the chart and ignore all the news.  Seems the banks we bailed out are making money hand over fist again,  hmmm….imagine that.  My Dad always reminded me, “your banker is not your friend”…truer words have never been spoken.  Apologies to any bankers who are offended, but I’ll stick with my old dad on this one.

CIT appears headed for bankruptcy, and this had the market riled up all morning.  JP Morgan Chase posted nice profits, with CITI and the rest of the banking cabal reporting earnings tomorrow.  Probably make for an interesting day…just remember, trade the chart, not the news or the economy.

Go Cubs!  We need a good second half of the season.  I guess I let the cat out of the bag, I am an inveterate Cubs fan.

It doesn’t take much to get the emini market excited…apparently

By , 15 July, 2009, No Comment
ES emini contract

ES emini contract

Charts courtesy of AMP Trading, get a free demo account and paper trade

Well, you get a hint of good news, or news that is more like “it could have been worse than this,” and the market goes bonkers.  I was long most of the day, as most of the real action took place during the pre-trading hours.  I don’t have too much to say about todays chart, as the chart really says it all.

Emini Trading on the ES emini contract 7-14-09

By , 14 July, 2009, No Comment
ESU9 July 14, 2009

ESU9 July 14, 2009

Charts courtesy of AMP Trading, get a free demo account and paper trade

The market made its usual move around 9:30 and that was about it.  There were some possible trade later in the afternoon as the price swung back in forth between support and resistance, but I was in a catatonic state by then, as the market once again proved to offer little in the way of afternoon price action.  Oddly enough, this particular day the price stayed close to the predicted pivots and deviated very little from the 89 period SMA.

Todays ES Emini Pivots

By , 14 July, 2009, No Comment
ESU9
For 07/14/2009
mbol R1 R2 Pivot S1 S2
ESU9 907.00 918.50 886.25 874.75 854.00

ES Emini Trading for July 13, 2009

By , 13 July, 2009, No Comment

ESjuly1309Charts courtesy of AMP Trading, get a free demo account and paper trade

Well, it wasn’t exactly one of those days you dream about, although it was profitable.  We had a nice move upward and the market treaded water for the rest of the day.  I highlighted the one try and exit for the day, and I am sorry to say that was the end of the action.  Sometimes trading can be very boring and tedious.  I might also add that the boring and tedious days are usually the most profitable, so I suppose I should not complain.

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Todays ES Pivots

By , 13 July, 2009, No Comment

ESU9
For 07/13/2009
Symbol R1 R2 Pivot S1 S2
ESU9 880.08 885.92 874.42 868.58 862.92

Trading for 7-10-09

By , 11 July, 2009, No Comment
ESU9

ESU9

Charts courtesy of AMP Trading

The morning session traded along  nicely and I was able to start out with a nice couple of trades, and then had a great set up got stopped out before the market could start upward.  It happens.  I didn’t try to jump back in because it’s never a good idea to chase the market, so I had to eat some crow.  The afternoon seemed fairly range bound, and there were some decent set ups but none that were really compelling so I headed to the golf course  toward the end of the session.  It turned out to be a good decision.

I have taken to reading some other trading blogs lately and find myself perplexed by some of the advice offered.  I am generally aware when a big economic or political announcement is going to made public and avoid being in the market at those times.  Aside from that minor information, I really don’t pay too much attention to anything but the chart.

I THINK IT IS IMPORTANT TO TRADE THE CHART THAT IS BEFORE YOU RATHER THAN THE ECONOMIC NEWS.  After all, the charts are a reflection of the information being disseminated in the media.   I never listen to television financial news when I trade, or any other kind of information service.  I simply trade what is before me on the chart.  I think that this is an important idea to assimilate.  (Note:  I have been known to listen to the Chicago Cub games during the afternoon session and this can be a very depressing experience, though I do not really know if it effects my trading)

As a matter of fact, Friday was a day filled with announcement from the G8 and the US government, and I never gave any of this information any weight in my trading.  I trust the charts, and I trust my trading methodology.  I do not try to guess how a given announcement will influence the trading direction.  I exist in a sort of trading vacuum, I suppose, as I am unconcerned about the world and only concerned about the information that appears on the given chart I am trading.  Make sense?

Trading on the ES Emini Contract Using CCI Entries

By , 9 July, 2009, No Comment

ES Trading 7-9-09

ES Trading 7-9-09

Charts courtesy of AMP Trading

Some pretty long bars today as the market enjoyed a day of volatility without a huge range.  I really enjoyed the trading today, but was fairly conservative.  Notice the entries on the 100 and -100.  I also avoid trades around the 100′s when there has been a lot of activity bouncing around those points.  I have found that these trades can be very uneven and unpredictable.  I like a straighter entry point.

Special Note:

The analyst from several investment firms have been absolutely screaming about the current glut of oil in the US and some have set targets as low as $20.  Of course, I have an inherent distrust of any analyst, but the fundamentals for the price moving downward, as it has been, seem fairly compelling.  I don’t trade the oils, but for those who have mastered this market it would seem a nice story line to cash in on.  I’ll leave that to your judgement, as it is not my area of expertise.

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