Dummy day trading #39 08-Nov-2006: ES Short trade closed

After gap down, and downtrending moving averages I was looking at short opportunity. I shorted ES, however, I was stopped out immediately. One trade closed with 1-R loss.

• Short below the low of 6th bar, which was resisted by 5-EMA.
• After short position was stopped out, ES formed a channel with higher highs and higher lows. I did not go long immediately as 20-EMA and 50-EMA were trending down and forming resistance.

I guess this should be the only trade of the day. Good night.

By the way, if you are Tradestation user, take note of your statement, I was charged of monthly fee even though I made more than 10 round turns future trade during October. I have confirmed with Tradestation securities, they are aware of the billing issue.