ES trades for 10/3/13

The pre-market was down about 13 pt at one point. By the time the market opened, it had pared about half that loss. Took 5 trades today - 4 winners and 1 loser. The loser was the first trade of the day and it was somewhat more painful than my previous losses. I should not have taken that trade.

Trade #1 - The trend was up at the time. Went long as it was a 2nd entry and prices bounced off of the trend line. Looked like a great setup. However, I forgot that at 10:00 the ISM Non-Mfr PMI data comes out. Don't know why I'd let this important detail slip. I always kept the economic calendar opened and in all previous occasions, I'd steered clear of trading +/-30 minutes of a major economic data/news event. The market dropped about 7 pt leading up to the data release. (2.00) + (2.00) = -4.00 pt...ouch!

• buy 2 @1681.00 at 9:46
• sell 2 @1679.00 at 9:52

Trade #2 - Prices halted their downward projection around the area of the previous low of the day. Entered long on a 2nd entry with prices forming a double bottom. Seemed like countertrend trading, but at this early point in the day, it looked like a range day. Stopped out on the 1st contract again, due to that annoying 1 tick tick-through. 0.25 + 1.00 = +1.25 pt.

• buy 2 @1675.00 at 10:10
• sell 1 @1675.25 at 10:14
• sell 1 @1676.00 at 10:16

Trade #3 - Prices rose to the upper downward sloping trend line and met some resistance. Place my stop order below the bearish candlestick and got filled on a 2nd entry short. Got both the scalp on the 1st contract and the 3 pt target on the 2nd. 1.00 + 3.00 = +4.00 pt.

• sell 2 @1675.50 at 10:18
• buy 1 @1674.50 at 10:21
• buy 1 @1672.50 at 10:22

Trade #4 - The market bounced slightly and went into a short uptrend. Took a 2nd entry long with trend line support. Got my 1 pt scalp on the 1st contract, but was stopped out on my 2nd. Should have manually exited, since prices formed a double top. 1.00 + 0.25 = +1.25 pt.

• buy 2 @1672.75 at 11:05
• sell 1 @1673.75 at 11:07
• sell 1 @1673.00 at 11:11

Trade #5 - Prices were moving in a tight 3 point trading range. Entered long on a stop above a Doji candlestick that formed after a bearish one. This was not a 2nd entry, but I like it because prices had support, as it formed a double bottom. 1.00 + 0.25 = +1.25 pt.

• buy 2 @1674.75 at 2:11
• sell 1 @1675.75 at 2:16
• sell 1 @1675.00 at 2:17

I dug a hole early in the day, but managed to pull myself out. Netted +3.75 points for the day.

ES chart 10/3/13