May 8th, 2017 - S&P 500 e-Mini - Trading Activity
Start of another week.
We got a bit of a Macron bump from the French elections, but it looks like most of the anticipation of his win was already priced in over the last couple of weeks and on Friday's run-up before the close.
Finally the market got one right.
Wrong about BREXIT and wrong about Trump.
From the bump on the open the market pulled back into support at the Friday BO near 2392.00.
There is some additional activity at the European open and we will see if there is an entry point for a long trade coming off this support.
Pre-Market Simulation Trading
The 30 min chart gave us a buy signal at 3:30.
The 3:30 am Long trade has an 85% probability on any day and an 89% probably on Monday.
We said we were going to be more aggressive this week so I am taking 2 contracts at the start on each trade.
Long 2 @ 2395.50. Target @ 2396.50.
Took a while and the market had to make a small pull back, but the target was hit.
We are flat with $95.00 profit.
10,000 tick chart gives us a buy signal at 5:50.
Long 2 @ 2396.00. Target @ 2397.00
Has a little pullback then moved up and hit the target.
We are flat with $190.00 profit.
Nothing much of interest happened from here to the open.
Switch to Real Money Account for the Open Trade
Nothing on the 10,000 tick between 8:00 and 8:30 am so we will go with the 30 min signal.
30 min chart gave us a buy signal at 8:30. Took 2 contract long @ 2385.75. Target on both contracts @ 2386.75. Set the target here because of the close overnight resistance level.
Target hit, we are flat with a $90.00 profit.
Switch back to the Simulation Account.
The 10,000 tick gives us a buy signal. Long 2 @ 2396.75. Target @ 2397.75.
No follow through. 10,000 tick gave a sell on the next bar. Flipped trade. Took 11 short @2392.25. 2 to cover the longs and 9 for recovery. Target @ 2392.25.
Target hit, we are flat with a $264.00 profit.
2,000 tick breaks the previous near term low to test overnight support.
2,000 tick rallied off support into a lower high then declined into a sell signal.
Short 2 @ 2393.50. Target @2392.50.
Target hit, we are flat with $359.00 profit.
30 min chart gives us a sell signal @ 9:00 am. Go short 2 @ 2393.25. Target @ 2391.75 based on next bar open.
The 2,000 tick rallied off support out of what looks like a double test into a buy signal. Almost tricked me into flipping the trade to a long. The 2,000 came back to re-test support and looked like it was going to rally again so I moved my target up to 2392.75 and was taken out.
We are flat with $404.00 profit.
Both the 10,000 an 2,000 tick charts have started to go sideways. Looking for a BO in either.
direction.
2,000 tick rallies, pulls back and rallies making higher mid range low then gives a buy signal.
Took 2 long @ 2393.75. Target @2395.75.
Stalled out in resistance at the top of the range then powered lower breaking down through support.
Flipped to short. Took 8 short @ 2391.50. 2 to cover the long and 6 for recovery. Target @ 2390.50.
Target hit, we are flat with $457 profit.
10,000 tick give us a sell signal on the break lower from the range. Short 2 @ 2390.50. Target @ 2389.25.
No follow through on this trade. Rallied into resistance, went sideways for a bit then broke out to a buy signal on the 2,000 tick. Flipped the trade to long taking 8 contracts @ 2393.25. 2 to cover the short an 6 for recovery. Target @ 2394.25.
Target hit, we are flat with $466 profit.
Lots of flip flops today as the market was in a narrow range there was no follow through on many of the trades.
At 12:00 noon the 30 tick chart give us a sell signal. Long 2 @ 2394.00. Target @2395.00.
Target hit, we are flat with $588 profit.
2,000 tick rallied from higher low into a buy signal. Long 2 @ 2394.25. Target @ 2395.25.
Target hit, we are flat with $656 profit.
10,000 tick gives us a buy signal. Long 2 @ 2395.00. Target @ 2396.25.
No follow through. The 2,000 tick makes a lower high then gives a sell signal. Short 7 @ 2393.50. 2 to cover the longs and 5 for recovery. Target set @ 2392.50.
I actually jumped the gun on this entry and it looked for a while like it might move against me. But, in the end the market moved lower and hit the target.
We are flat with a $739 profit.
It is almost 15:00 pm so we will call it a day.
Summary for the day.
Real Money account = $90
Simulation account = $739
Simulation Daily Summary, equity chart and trade list below.
We got a bit of a Macron bump from the French elections, but it looks like most of the anticipation of his win was already priced in over the last couple of weeks and on Friday's run-up before the close.
Finally the market got one right.
Wrong about BREXIT and wrong about Trump.
From the bump on the open the market pulled back into support at the Friday BO near 2392.00.
There is some additional activity at the European open and we will see if there is an entry point for a long trade coming off this support.
Pre-Market Simulation Trading
The 30 min chart gave us a buy signal at 3:30.
The 3:30 am Long trade has an 85% probability on any day and an 89% probably on Monday.
We said we were going to be more aggressive this week so I am taking 2 contracts at the start on each trade.
Long 2 @ 2395.50. Target @ 2396.50.
Took a while and the market had to make a small pull back, but the target was hit.
We are flat with $95.00 profit.
10,000 tick chart gives us a buy signal at 5:50.
Long 2 @ 2396.00. Target @ 2397.00
Has a little pullback then moved up and hit the target.
We are flat with $190.00 profit.
Nothing much of interest happened from here to the open.
Switch to Real Money Account for the Open Trade
Nothing on the 10,000 tick between 8:00 and 8:30 am so we will go with the 30 min signal.
30 min chart gave us a buy signal at 8:30. Took 2 contract long @ 2385.75. Target on both contracts @ 2386.75. Set the target here because of the close overnight resistance level.
Target hit, we are flat with a $90.00 profit.
Switch back to the Simulation Account.
The 10,000 tick gives us a buy signal. Long 2 @ 2396.75. Target @ 2397.75.
No follow through. 10,000 tick gave a sell on the next bar. Flipped trade. Took 11 short @2392.25. 2 to cover the longs and 9 for recovery. Target @ 2392.25.
Target hit, we are flat with a $264.00 profit.
2,000 tick breaks the previous near term low to test overnight support.
2,000 tick rallied off support into a lower high then declined into a sell signal.
Short 2 @ 2393.50. Target @2392.50.
Target hit, we are flat with $359.00 profit.
30 min chart gives us a sell signal @ 9:00 am. Go short 2 @ 2393.25. Target @ 2391.75 based on next bar open.
The 2,000 tick rallied off support out of what looks like a double test into a buy signal. Almost tricked me into flipping the trade to a long. The 2,000 came back to re-test support and looked like it was going to rally again so I moved my target up to 2392.75 and was taken out.
We are flat with $404.00 profit.
Both the 10,000 an 2,000 tick charts have started to go sideways. Looking for a BO in either.
direction.
2,000 tick rallies, pulls back and rallies making higher mid range low then gives a buy signal.
Took 2 long @ 2393.75. Target @2395.75.
Stalled out in resistance at the top of the range then powered lower breaking down through support.
Flipped to short. Took 8 short @ 2391.50. 2 to cover the long and 6 for recovery. Target @ 2390.50.
Target hit, we are flat with $457 profit.
10,000 tick give us a sell signal on the break lower from the range. Short 2 @ 2390.50. Target @ 2389.25.
No follow through on this trade. Rallied into resistance, went sideways for a bit then broke out to a buy signal on the 2,000 tick. Flipped the trade to long taking 8 contracts @ 2393.25. 2 to cover the short an 6 for recovery. Target @ 2394.25.
Target hit, we are flat with $466 profit.
Lots of flip flops today as the market was in a narrow range there was no follow through on many of the trades.
At 12:00 noon the 30 tick chart give us a sell signal. Long 2 @ 2394.00. Target @2395.00.
Target hit, we are flat with $588 profit.
2,000 tick rallied from higher low into a buy signal. Long 2 @ 2394.25. Target @ 2395.25.
Target hit, we are flat with $656 profit.
10,000 tick gives us a buy signal. Long 2 @ 2395.00. Target @ 2396.25.
No follow through. The 2,000 tick makes a lower high then gives a sell signal. Short 7 @ 2393.50. 2 to cover the longs and 5 for recovery. Target set @ 2392.50.
I actually jumped the gun on this entry and it looked for a while like it might move against me. But, in the end the market moved lower and hit the target.
We are flat with a $739 profit.
It is almost 15:00 pm so we will call it a day.
Summary for the day.
Real Money account = $90
Simulation account = $739
Simulation Daily Summary, equity chart and trade list below.
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