ES 10-06-08

buying here...

i know i said id bail at 1042 but im holding this one a while .. ikeep coming back to that 1066 proj. Of couse ill never make it that long ,but i like the technicals here.

we finally broke the 1 min avg. boll avg and 5 min boll avg so they should now be support. Raising my stop to 1036.50 for a free trade.

short at 46

NEXT STOP 1053-54(5 min 54 exp. is around 1053 and change)

Closing my Long 1041.25 position at 1045.00

out at 41, +5

thinking 36 would be a good long here

stopped for break even trade... Great call, Pops!

buying 2@ 1032.25

long at 36

You "could" figure them down so close to where there only pennies apart. But thats not the way they are used by me and also Gann. Here are the numbers I use, these are about 19 points apart, some more some less....

993
1009
1025
1041
1057
1089
1106
1123
1140
1157
1174
1191
1208
1225
1243
1261
1279
1297
1315
1333
1351
1369
1388
1407
1426
1445


Some common sense should be used...like don't trade these alone mix them with something good like $TICK, Market profile or RSI, If a market is doing a breakaway gap don't expect much on a counter-trend trade instead go with the trend after the number is broken. Treat them like everlasting pivots....


A good ex for a scalper would be the ES right now 10-7 at 2:30 the ES hit a high of 1042.5 thats close enough to my sq nine at the same time the 1 min RSI is overbought and the $TICKS are at the highest levels of the day, so it falls and falls to where? the next sq nine 1025 at that time the $TICK is reading -1000 time to get out of the short and go long. I have never seen them go from sq nine to sq nine so fast 2 years ago it could have been up to 3-4 days before hitting another sq nine and we would play the ES to death off that single S/R number using only a few other simple tools.

P.S. I trade front month until there is less than 5 days of time left then I switch to the next month and I only trade those exactly in the money.