Currently ES futures are trading down about -15, here's two ES
charts, 5 and 15 min.
Currently ES is trading close to S1 support pivot at 1237.60, it
will be interesting to see if this pivot holds or not. There
is some positive divergence on the 15 min chart via the DPO
indicator, but otherwise watch to see if that pivot holds, if it
doesn't hold, then futures will probably have another leg down
otherwise I'm going to bed, we'll see how things look in the
morning....
late last night about 1 am my time, I added 15 and 5 min, at the
time I pointed out how ES was down -15, but it was very close to
the S1 pivot which was support. Anyway ES bounced off the
pivot 20 points, but fell back quite a bit.
however again this shows how volatile the market is overnight
and how some traders stay up all night to trade ES futures and
sleep during the day because the moves are so large.
last night for example I bought ES at 1239 (just above the
pivot) with a stop at 1237.5, VERY tight stop. Why, because I
thought it might be low risk taking a shot right at support because
my stop could be very tight. I then put a sell limit order at
the next pivot at 1250 (see the chart), it was hit overnight while
I was sleeping for a 13 point move.
well I figured since ES was trading so close to that support
level, why not take a shot, I was OK risking 1.5 points if I was
stopped out, big deal. and the target to the upside was the
next pivot. I would ONLY do that if you can buy really close
to support so that your stop can be ultra tight, otherwise I
wouldn't have bothered.
Futures
Posted by matt on 16th of Nov 2011 at 01:11 am
Currently ES futures are trading down about -15, here's two ES charts, 5 and 15 min.
Currently ES is trading close to S1 support pivot at 1237.60, it will be interesting to see if this pivot holds or not. There is some positive divergence on the 15 min chart via the DPO indicator, but otherwise watch to see if that pivot holds, if it doesn't hold, then futures will probably have another leg down
otherwise I'm going to bed, we'll see how things look in the morning....
late last night about 1
Posted by matt on 16th of Nov 2011 at 09:24 am
late last night about 1 am my time, I added 15 and 5 min, at the time I pointed out how ES was down -15, but it was very close to the S1 pivot which was support. Anyway ES bounced off the pivot 20 points, but fell back quite a bit.
however again this shows how volatile the market is overnight and how some traders stay up all night to trade ES futures and sleep during the day because the moves are so large.
last night for example I bought ES at 1239 (just above the pivot) with a stop at 1237.5, VERY tight stop. Why, because I thought it might be low risk taking a shot right at support because my stop could be very tight. I then put a sell limit order at the next pivot at 1250 (see the chart), it was hit overnight while I was sleeping for a 13 point move.
Trading in the sleep...
Posted by cairo on 16th of Nov 2011 at 09:29 am
Trading in the sleep...
well I figured since ES
Posted by matt on 16th of Nov 2011 at 09:31 am
well I figured since ES was trading so close to that support level, why not take a shot, I was OK risking 1.5 points if I was stopped out, big deal. and the target to the upside was the next pivot. I would ONLY do that if you can buy really close to support so that your stop can be ultra tight, otherwise I wouldn't have bothered.
So now we can tell
Posted by bkout3 on 16th of Nov 2011 at 09:26 am
So now we can tell people -- "The guy can trade in his sleep!"
hmm???
Posted by zach06 on 16th of Nov 2011 at 04:55 am
Futures look positive to me. Are you reading the monitor upside down? LOL
Not much support on the Euro until just above 1.336
Posted by lessarda on 16th of Nov 2011 at 01:22 am