Long position of ES was established when it pulled back to 20-EMA. I did not take profit when it hit last swing high (It was 1-R gain at this point of time), and it was Pivot R1 level as well. Instead, I moved my stop to break even which was below 5-EMA. I am thinking maybe i should take profit at this point (partial profit taking is not an option to me at this point of time, I am trading 1 contract for ES), and subsequently look for second entry opportunity. Anyway, stop was triggered. Well, too bad. One trade closed with B/E.
- Long above high of 18th candle. It was supported by 20-EMA
- Stop was set below the low of 18th candle.
- Target was set at Fib extension 61.8%
At the time of writing this post NY time 1205pm, I found that Tradestation quotes and charts are frozen for the past 2 minutes. After restarting the application, everything seems fine. I don’t know what’s going on again.
Recently I am enjoying trading dummy in 5-min ES. Volatile and bigger tick value comparing to YM and NQ.