Trade Summary
20130808
Long 1 TF 1049.7, -1.4
Long 2 TF 1048.1, -0.5, -0.5
Long 1 TF 1046.4, +1.0
Long 3 TF 1044.7, 1044.4, 1044.5, +0,5 +0.5, -1.0
Long 3 TF 1043.6, 1043.7, 1043.5, +1.0, +1.0, +0.5
Long 2 ES 1686.5, 1686.0, -1.5, -1.75
Long 2 TF 1042.6, 1042.5, -0.6, +0.5
Long 2 TF 1042.0, 1042.0, +0.5, +1.9
Long 1 TF 1043.6, +1.0
Long 1 TF 1044.8, -0.4,
Long 1 TF 1045.0, -0.3
Total ES -3.25
Total TF +3.7
Third day in row for a brutal 1st trend sell-off. And again, successive support levels failed to hold without providing much bounce to get short on. Such is the bear. And if the bear is finally taking hold in the daily frame,
there should be much more of this, as it has tendency to go vertical, unlike bull, which often grinds in fits and turns. Today, did manage to take the third contract on 2 of the 3 support levels where turns most likely, but failed to do so on the third and best support level. This left only modest profits at resistance exit, where a runner would have pushed me into a profit goal. Subsequent trades were taken as breakouts to that resistance level, but action proved choppy as the 1st frame came to an end. Second Trend breakouts are in my Trade Plan, so at least can say I met them. Stay with the Plan. The smallest details of its rules can mean the difference between a profit goal and just breaking even for the day. It takes heart to trade, especially on volatile days like this where it can be straight down, and then nearly straight back up.
