ES trades for 7/29/13

One high impact economic data came out today at 10am. It was the Pending Home Sales. I tend to avoid putting on any trades +/- 10 minutes before & after these news items. Market was up slightly from the opening bell. However, it began dropping about 10 minutes before the Sales data came out. It basically didn't stop until around noon. For my charting, I've noticed this past week or so, that we have been getting triple trend lines, instead of the usual double ones. Anyway, I did 2 trades today and I got shook out of both for small gains only. For the 100^th time, had I kept my ATM strategy in place, instead of manually exiting, prices would've hit my targets on both occasions.

Trade #1 – Prices reversed after forming a double bottom. I was a bit late on this 2^nd entry long, but entered at 12:11 @1678.50. Took a bit of heat initially, as prices retraced a bit, but still hovered near the EMA. I exited manually at 12:44 @1679.00, just as a Doji finished forming. Got +0.50 pt. Of course, after I was out, my target was promptly hit.

Trade #2 – Went short at 15:06 @1682.00 on a failed 2^nd entry long. Prices found support @1681.00, so I manually exited at 15:25 @1681.50 for +0.50 pt. Afterwards, on 3 occasions it hit resistance @1682.75. When the 4^th try failed to break through, the bottom fell out and prices went down to 1679.50. Same shit, different shoe. Need to trust my ATM strategy and be like that Showtime Rotisserie "Set it, and forget it!"

7/29/13 ES chart