Click on chart for comments on the ES Market trade.Entry at 9:45AM, entry price 1038.25
1/2 Exit at 1032.25 = $300
2/2 Exit at 1019.50 = $937.50 (Close Gap)
Total for every 2 contracts = $1,237.50
This trade went for the GAP. The high of the market from yesterday was 1017.50. I placed a longer term target of 1019.50, which was hit quickly this morning. I am still trading 6 point profit target and a 4 point stop loss on my bracket order when I got into the market.
My thought process was to trade what the market is showing. This morning it was pretty obvious that the market wanted to try to go to the GAP. I reduced my contract size today, and only took on 2 contract size for this trade.
This turned out to be a decent trade. On a side note, my ZB market data is off today, but my ES data is not. I will not be trading any more today based on my gain this morning.
Good Trades,
David AKA Tiger
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