Thursday, October 12, 2006

A word of thanks to SPACE for your kind comments...I look forward to making this blog as interesting as possible, as informative as possible, and lastly as addictive as possible too...lol.
Last night was a quiet night for me, in terms of trading. Did not take any trades as I was feeling rather tired. Retired to bed rather early, around 11.30pm...
But having browsed through the charts this morning, it does look like the ES (ESZ6) is heading back up to challenge 1263.00. A failure here (a lower high) would result in a challenge of 1251.00 as the first PRIME target on my TREND Chart. 1251.00 being the first PRIME Breach of last PRIME SUPPORT at 1252.50 (last Fri's low)

As mentioned in my earlier posts, juggling between trading & my day job is really tough. Tonight, I have to see a client at his home at 9pm (half an hour before the US Markets open). The earliest, I will finish the appointment, will be at least an hour to an hour an a half. By the time I reach home, I will be "mentally" tired...and another trading night would have passed...sigh

10.40pm Just got back from my appt and whoa! PRICE just shot thru Resistance at 1263.00! A PRIME Breach, on the TREND Chart. PRICE will continue in this direction, until it fails...

12.42am It's the lunch time chop...Looking for a failure of Resistance 1267.25 to go SHORT - Aggressive trade. TREND has not changed but to go long here at 1266.00, PRICE would need to clear 1267.25...

12.57am Failure of resistance (at 1266.50). Aggressive short at 1265.50. STOP at 1266.75 First target support at 1263.75

01.22am Moving STOP to 1266.50

01.55am STOPPED by the lunch time chop... - 1 pt. Done for the night.