ES 11/12/13 +2.25

Today was a lot better, in terms of movement & trading volume in the ES. As was mentioned yesterday, my daily goal is 2 ES points. Once I hit that target, I stop trading. I was able to achieve that early on today. I was basically done by 11 AM and just casually watched the market on the sideline for the rest of the day. Had to fight the temptation to enter on a few setups, though. There was, however, a short entry around 1:29 PM that I would have definitely taken, had I been paying more attention.

Trade #1 - 2nd entry long with prices gaining support at the 1764.00 area. Prices immediately headed lower, as a bearish candlestick formed. I was a bit apprehensive at this point. Even more so, when on the next bar, prices proceeded to go below the 1764.00 support area by a few ticks. However, when that bar finished bullish, I lowered my scalp target to a couple of ticks. Got out in the middle of a huge price move up. In hindsight, that bar with the 2 ticks below support probably trapped a lot of shorts. They were covering their positions, when they realized the market was going higher. This added fuel to the fire for longs, as prices rocketed up. Wish I had the guts to stay with the trade for the full target. +0.50 pt.

• buy 1 @1764.75 at 10:10
• sell 1 @1765.25 at 10:16

Trade #2 - This trade was a bit aggressive. It was a first entry short, after prices shot up almost 5 points in less than 5 minutes. However, at this point, it seemed like a range day. Prices had finished making a 2nd leg measured move. Also, it was meeting overhead resistance. I exited early at the first sign of a bounce. The trade lasted all of 1 minute. +0.75 pt.

• sell 1 @1767.75 at 10:21
• buy 1 @1767.00 at 10:22

Trade #3 - Went short on a 2nd entry, with prices making a double top. Took awhile for the trade to work out. At one point, I was within 1 tick of being stopped out, when prices moved up to formed a triple top. When it failed to break through resistance a 3rd time, the bottom felled out and prices dropped. +1.00 pt.

• sell 1 @1767.00 at 10:32
• buy 1 @1766.00 at 10:56

ES chart 11/12/13