Thursday - Sept 06 - Update:
Open Position is now GAIN : + 15 pts and Second Target reached and booked
Total profits now : + 26 Points = $ 1,300 per contract
Next Target : 1216.25
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Wednesday - Sept 05 - Swing Position Update :
Long ESU12 - Sept Futures E-Mini S$P500 @ 1398 since Aug 31
Open Position GAIN + 11 Point
Today's Price Action : N R 4 and Inside Day - Expected second target at 1412
Review : The ES Market opened and drop down to the 61.80% Fib at 1399.75 where it found support
as expected closing above the Key Institutional Level on the first 30 mins of trading.
On the second 30mins period the market tested the Key Level then it auctioned up to above the Globex High where it closed. Then on the second Hour it continued the uptrend up to the Key Resistance Level #1 at 1408.25 where a revesal took place down to below the Pivot where it closed.
The Fourth 30min period the market droped and found support at the 50% Fib Level and reversed again closing above the Opening Range. After a Consolidation period of 2 Hours above the Opening Range until the 5th Hour where it droped again to the 61.80% Fib Level and closing above this level thus making a Double Bottom. So the Key price action clue was the holding of the 50% Fib Level.
End of Review - For Key levels follow me on Twitter or Leave an Message on this Post
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Sunday, Sept 02
Back from a Summer long Scuba Diving and islands voyage through the Caribbean and Central America tropical Islands.
New Position in the E-Mini S&P500 Futures Sept ( ESU12 ) : Long 1398
11:30am - First Target hit and booked profits + 11 Pts = $550 per contract -
Open Position Long @ 1398
Next Target : 1412
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