ES trades for 9/26/13

Another range day today. Again, this suited me fine, as I prefer this type of market over a trending one. Could've done more, but I only did 2 trades today...both were longs. There were 5-6 possible trades that I didn't take. Blame it on the usual suspects (fear & hesitation).

Trade #1 - Normally, I wouldn't take a trade that early in the day, but the setup was quite good. Prices were making higher highs and higher lows. Went long on a 2nd entry, with a bullish Hammer candlestick bar before it. In at 9:30 @1689.25. My 1st target was reached at 9:31 @1690.25. My runner was still active, but I saw a potential double top forming, so I manually exited at 9:34 @1691.75. In hindsight, I exited too early, as prices climbed pass my 2nd target and shot up an additional 5 more pt. But, I rather be safe than sorry. 1.00 + 2.50 = +3.50 pt.

Trade #2 - Prices went into a short-term downtrend (within an overall range day). Went long on a 2nd entry at 13:54 @1690.00, after prices bounced 4X on support. Right after I entered, the next bar formed was a Doji. This, plus the fact that I was countertrend trading, kind of spoofed me. Decided to manually exit early for a small gain. Out at 13:58 @1690.50. Turned out to be a good move, as prices dropped about 4 pt right after I got out. 0.50 + 0.50 = +1.00 pt.

ES chart 9/26/13