Tuesday, November 11, 2008

Tuesday 11/11/2008 Trades

Fought the (down) trend again this morning. ES was trading in the high 920s last night. Was expecting an up-move driven by short-covering (short squeeze). 895 was also a Fib level I was looking at for support, so tried going long in that area. 5-min chart was screaming SELL all morning, but I ignored it and traded solely off the 1-min chart and paid the price. Ended the morning train ride +$90 or so, but recovered from a -$800 loss. Will be paying more attention to the 5-min chart. Saw a buying opportunity in the mid 880s later in the morning, but was busy in meetings so didn't put on any trades (keeping this as realistic as possible).

TradeStation Performance Summary:

Trades Plotted on 1-Min Chart:

Current FIB Levels (240 min chart)

Market Structure Chart (5-min)

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