June 19th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0, Sim Trade Profit $0
Opening Comments
No market moving events over the weekend.
The markets opened about where they closed and have made a small upward move continuing the Friday late day rally.
Prognosis for the week from our advisory subscription is for the market to rally in the first few days then pullback towards the end of the week.
Our daily target in the Real Money account , for this week, is $250.
Real Money Trading S&P 500 e-Mini
Missed a long signal at 1:04 and the market is running higher from that signal.
Waiting for the next one.
The 2,000 tick appeared to be setting up for 2 consecutive sell signals.
I placed an order in anticipation that was filled, then the sell signal did not follow through.
3:40 - Sold 1 short @ 2438.00. Target @ 2437.00
Since this is already off plan and does represent a possible reversal point in the market I am going to adjust the target based on the open and Fibonacci numbers.
The mid point between the 23 and 38% retracement levels brings us back to just above the open.
We will put the target @ 2434.50.
The market went sideways for a few bars and has now declined from that consolidation into a sell signal on the 2,000 tick chart. We also have a supporting sell signal from the 10,000 tick chart.
The entry point for this signal is 2437.00.
From this last entry point, the market has rallied, formed a lower short term high then declined into another sell signal. In this process there was a buy signal in the rally that I chose to ignore. Still not sure how this will play out as we approach the open as the market is consolidating in a range just below the overnight high.
We will stick with our plan and keep the target where it is for now.
Coming into the open everything is saying buy. The market opened, took a dip big enough to give a sell signal, then rallied, breaking out to new highs.
So, here we are sitting on this short position with the market running higher. Might have to re-think my morning strategy.
Once again we are on Plan B, waiting for the market to come to us.
Market ran up about 10 points then the 2,000 tick declines of the high into 2 consecutive sell signals. Took 1 short @ 2448.00. Net short 2 with an average price of 2443.00. Move target up to 2442.00.
The market rallied back to re-test the 2450 day high, then declined forming a double test of this high. Using this double top for a target estimate puts our target @ 2439.00
We will leave the target @ 2422.00 for now, but be ready to move it if the market runs lower with strength.
The market rallied again, making a third test of the 2450 level then declined into 2 consecutive sell signals. Took 1 more short @ 2449.75. Now net 3 short at an average price of 2445.25.
Adjust target to 2443.25.
Market has closed with a late day decline off that third test of resistance.
It would not be unusual to see the market take back some of today's gains overnight.
We will set up our buy orders to cover these short in anticipation of that.
2 @ 2443.25
1 @ 2442.25
These targets are chosen based on Fibonacci retracement levels and the Size of the trading range the market was in for most of the day.
Simulation Trading LW Best TDOM Bonds
Our next Bond entry day is the 21st.
Expecting a long trade.
Simulation Trading S&P 500 e-Mini
Nothing in the Sim Account today as we were watching the Real Account all day.
Daily Summary & Charts
Chart below shows the price movements for the day, my short entry points and the targets in place.
Hindsight being a wonderful thing, I should have taken the normal 1 point target on the very first short position instead of waiting in expectation of it declining back to the open.
Second mistake was second guessing the open trade and not flipping to the long side just before the open when we had a buy signal.
Lessons Learned!!!
No market moving events over the weekend.
The markets opened about where they closed and have made a small upward move continuing the Friday late day rally.
Prognosis for the week from our advisory subscription is for the market to rally in the first few days then pullback towards the end of the week.
Our daily target in the Real Money account , for this week, is $250.
Real Money Trading S&P 500 e-Mini
Missed a long signal at 1:04 and the market is running higher from that signal.
Waiting for the next one.
The 2,000 tick appeared to be setting up for 2 consecutive sell signals.
I placed an order in anticipation that was filled, then the sell signal did not follow through.
3:40 - Sold 1 short @ 2438.00. Target @ 2437.00
Since this is already off plan and does represent a possible reversal point in the market I am going to adjust the target based on the open and Fibonacci numbers.
The mid point between the 23 and 38% retracement levels brings us back to just above the open.
We will put the target @ 2434.50.
The market went sideways for a few bars and has now declined from that consolidation into a sell signal on the 2,000 tick chart. We also have a supporting sell signal from the 10,000 tick chart.
The entry point for this signal is 2437.00.
From this last entry point, the market has rallied, formed a lower short term high then declined into another sell signal. In this process there was a buy signal in the rally that I chose to ignore. Still not sure how this will play out as we approach the open as the market is consolidating in a range just below the overnight high.
We will stick with our plan and keep the target where it is for now.
Coming into the open everything is saying buy. The market opened, took a dip big enough to give a sell signal, then rallied, breaking out to new highs.
So, here we are sitting on this short position with the market running higher. Might have to re-think my morning strategy.
Once again we are on Plan B, waiting for the market to come to us.
Market ran up about 10 points then the 2,000 tick declines of the high into 2 consecutive sell signals. Took 1 short @ 2448.00. Net short 2 with an average price of 2443.00. Move target up to 2442.00.
The market rallied back to re-test the 2450 day high, then declined forming a double test of this high. Using this double top for a target estimate puts our target @ 2439.00
We will leave the target @ 2422.00 for now, but be ready to move it if the market runs lower with strength.
The market rallied again, making a third test of the 2450 level then declined into 2 consecutive sell signals. Took 1 more short @ 2449.75. Now net 3 short at an average price of 2445.25.
Adjust target to 2443.25.
Market has closed with a late day decline off that third test of resistance.
It would not be unusual to see the market take back some of today's gains overnight.
We will set up our buy orders to cover these short in anticipation of that.
2 @ 2443.25
1 @ 2442.25
These targets are chosen based on Fibonacci retracement levels and the Size of the trading range the market was in for most of the day.
Simulation Trading LW Best TDOM Bonds
Expecting a long trade.
Simulation Trading S&P 500 e-Mini
Nothing in the Sim Account today as we were watching the Real Account all day.
Daily Summary & Charts
Chart below shows the price movements for the day, my short entry points and the targets in place.
Hindsight being a wonderful thing, I should have taken the normal 1 point target on the very first short position instead of waiting in expectation of it declining back to the open.
Second mistake was second guessing the open trade and not flipping to the long side just before the open when we had a buy signal.
Lessons Learned!!!
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