ES 8-4-16

for me my preference is to use 59.75 as magnet price...other numbers are 64 and 69 on upside and watch 57.50 and 54.25 on downside...this is being written while price is above the 59.75 magnet !!!....

out one at 55.50 stop at 53.50

Bruce, since the initial breakout of OR was to the upside, did you go long first or was your bias towards a short because opening print was above yesterday's high?

yes i understand thanks..i see your thinking and agree

stop move to 54.75

I had a short working from the overnight so I used the OR high to exit my runner on that overnight trade.....I did not go long but we could have and have tried for the plus 4 to the upside....that would have failed and you would have had to stop and reverse at the OR low to get the minus 4..so lets say we took the long and lost two points and reversed.....not including slippage etc we would have net out two points..........or even better you could have taken something off at the plus 2.5 on the long trade and then tightened stop on runners......I'm just tossing out ideas here....so that is a long way of saying that I wasn't long as I was looking for short trades and the 57.50 test today....one has to decide if they want to take the OR trades mechanically or use discretion.....my advice is to use a mechanical approach..

Originally posted by stocksster

Bruce, since the initial breakout of OR was to the upside, did you go long first or was your bias towards a short because opening print was above yesterday's high?

out at 58..low of OR bar

nice one Duck

Originally posted by duck

stop move to 54.75

Thanks Bruce.

Originally posted by BruceM

I had a short working from the overnight so I used the OR high to exit my runner on that overnight trade.....I did not go long but we could have and have tried for the plus 4 to the upside....that would have failed and you would have had to stop and reverse at the OR low to get the minus 4..so lets say we took the long and lost two points and reversed.....not including slippage etc we would have net out two points..........or even better you could have taken something off at the plus 2.5 on the long trade and then tightened stop on runners......I'm just tossing out ideas here....so that is a long way of saying that I wasn't long as I was looking for short trades and the 57.50 test today....one has to decide if they want to take the OR trades mechanically or use discretion.....my advice is to use a mechanical approach..

Originally posted by stocksster

Bruce, since the initial breakout of OR was to the upside, did you go long first or was your bias towards a short because opening print was above yesterday's high?

great.... with key areas at 59.50 and 57.50 that area becomes too dangerous in my opinion and we are only 15 minutes away from 11 a.m for me....closing up shop today....we have poor lows and highs today so this could go either way and I have no clue........

Originally posted by duck

out at 58..low of OR bar