ES trades for 10/11/13

Friday was an uptrend day. Did 3 trades - a pair of longs and a short. All were winners.

Trade #1 - Even though prices were forming a small downward sloping channel, I still went long. There were 3 reasons for this.

1. It was a 2nd entry
2. Prices were at the EMA
3. It was looking like an uptrend day

• buy 1 @1689.50 at 10:23
• sell 1 @1690.25 at 10:27

I had manually exited for +0.75 pt, in anticipation of prices meeting resistance at the upper trend line. Sure enough, after touching the trend line, it promptly reversed...which led to my 2nd trade.

Trade #2 - When prices reversed immediately and upon the formation of a bearish candlestick, I went short on a limit order. Price rejection entry. Was a bit nervous when, not one, but two consecutive Dojis formed near the EMA. However, I held steady, as I was expecting prices to test Thursday's high of the day. Prices broke through that level and went down further. Got my scalp of +1.00 pt.

• sell 1 @1689.50 at 10:28
• buy 1 @1688.50 at 10:35

Trade #3 - As prices continued dropping, I was expecting some sort of bounce around the main upward sloping trend line. When it did and the bar ended very bullish, I was tempted to go long. I held off, as I was waiting on a 2nd entry. Had I taken the trade, it would've worked out. Prices then bounced on the short upward sloping trend line that formed. Also, prices were at the EMA. I entered on a limit order on a candlestick that ended up bullish. However, the next bar finished bearish, but I did managed to get my +1.00 pt scalp with it at it's high point . The bar after that ended up as a Doji and failed to push prices down, which caused the market to rocket up. This could have been a failed 2nd entry short trade too.

• buy 1 @1688.25 at 11:24
• sell 1 @ 1689.25 at 11:26

ES chart 10/11/13