Emini Day Trading Blog

The first trade was text book Dr Jeff R/T trade. I used the more conservative of the two targets; 12332 instead of 12336. The second trade was almost a Dr Jeff, but lack a confirmation. As it turns out, the third trade was the correct way to do the entry. Again, I used the conservative target and price went to the higher one.
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The first trade as strictly an intuition trade that I took after looking at fib R/T’s for the opening gap. The 62% was 12099, so I used a target of 12301, just above the big number which is usually support. That not only was a good target, but a good place to look from a long trade. This trade was a little slow in developing, so I got out with 6 points. It eventually went to the target. The last was a break even on a doji reversal.
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It was a busy morning with 5 trades. The first three were breakouts with mixed results. Then a double top with strong divergence for a counter trend trade. This one took a while to develop. The target was the 62% R/T for the day’s up move. It was also te entry for a Dr Jeff trade with a target of the day’s high.
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The first trade was a straight forward breakout. Target was yesterday’s close and also a 50% R/T of yesterday’s move. The second was also a breakout, but I didn’t wait for the complete retest of the previous low and got in too low. Then to compound the problem, I set the stop too tight. I tried the trade again but this time as a full R/T confluence. I exited prematurely. This would have been a great trade. I was being too clever and it cost me.
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Took a couple of breakout trades. I exited the first one at the lesser of the 2 Fib targets. Price actually continued on to the higher target where it paused briefly. The second one I exited early because I failed to notice that the entry as at a multi-day fib level. The last trade was a counter trend trade after the bounce from 12200. I exited after the first down move reversed. The up trend had been too strong for much of a counter trend move. I reentered the counter trend trade as a divergence trade ala Dr Jeff. This finally hit the target at 12175.
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Did a couple of experiments with mixed results. Then a breakout trade with yesterday’s low as a target (12121). It actually went slightly beyond the fib extension of 12116. This suggests that the fib extensions are watched by many traders and therefore are fairly accurate forward indicators.
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The big trade was jumping on the down trend after the 10:00 news. The target was the fib extension. It actually made the fib 62% of yesterday(12160). I also tried a countertrend trade and a straight forward fib R/T , both for break even.
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The breakout trade continues to work. The second trade was a standard fib R/T Dr Jeff trade. The third was another Breakout, but reversed after an 8 point gain. I got out at break even.
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Two breakout trades today. I lost patience with the second one and exited early. It went on to hit the target (of course). This breakout method is working quite well so far. I may write an article about it for the website
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Had a good long on a breakout. Then a couple of b/e trades during the long trading range.
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