Thursday, September 3, 2009
Thursday 09/03/2009 - Range-Bound (again)
Today provided a few good trade opportunities but timing is always critical, and if you missed the entries, then best bet is to avoid the chop. Today was Day 2 where the day session remained within the Globex/over-night range. Again, fading the extremes would have been profitable.
I look at charts on ThinkorSwim during the day when I can take a break from work, and will put on a trade using their Simulator if I see a good area for entry. I went Long 3 contracts at 996.00 around 2:00 PM (central) and scaled out at 997.00, 998.00 and 1000.00.
Employment Situation out at 7:30 AM (central) tomorrow morning.
ES - 5-Min Chart for Wednesday 09/02/2009