6 thoughts on “Buy ES NOW tg=2566.00 st=2561.50 ts=15:50 (disc)

  1. premise: BO of HOD, at about the same same YM would as well. ES should be attracted to yesterday’s HOD. And, if BO happens with commensurate move in NQ, then the NQ would be above it’s yesterday’s close, which will prob give a little boost.

  2. reasons to NOT like trade: TF already outside its yesterday’s range. If consolidation is going to be relative to yesterday’s range/VWAP, then the bias is on the downside, not upside. The NQ already gave a boost a few minutes ago, and hitting yesterday’s close might cause a small rejection, which given the small stop on the trade, could stop us.

  3. Nother reason not to like it: last BO at 11:02 didn’t pop much – that pop could have (/should have) been the whole trade. Reason to like the trade: it’s a scalp with a good risk/reward.

  4. The NQ, ES, and TF all broke their HODs at 11:01 – great for the trade. YM didn’t. The pop in ES went to 65.00, target was 66.00. The pop happened as expected, but wasn’t big enough to get to the target. At this point, the outcome of this trade isn’t dependent upon whether price action conforms to the original premise. It was a “BO, quick scalp” type premise. Now, we’ll have a winner if price creeps up w/o any wiggles that touch our stop. At this exact point in time, it is creeping up, but, like any scalp with tight target/stop, it could go either way easily.

  5. out – 6ticks. I feel pretty good about the trade. The risk/reward was great, the premise was great, the little pop happened as expected. All things considered, a good trade. Glad I took it.

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