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On my last trade, I went long and added twice. Two addons is the max I would take, for now. I can do addon since I am trading very small, based on my account size. My second Addon was too early. Here is why I was long:
--The two previous 5M bars were very bullish (big spread) with good volume. I took the Long at the high of the second of the bull bar. As the “Fake” Twitter news come out, many went short. I exited my long, so short I was as well. This would be used as fuel for the next leg up later as it was known to be a bad tweet.
--Trend line support below and we also had another pre-news previous swing low.
--Volume on the up bars were higher than volume on the down bars.
--Around 10:00 CST I decided that with two major bearish news (Pentagon and No debt deal) released in the AM, ES held well and even ticked higher. I did not want to get chopped around with many frustrating stops. So, I widen my stop to below the daily lows, and hold for daily Target/Loss.
--Out at 4218.25 on all with a good day: +41.5 Points on all contracts. It was a good exit as JPM CEO, AKA Mr. Gloom and doom, sold us off right after my exit. I think we would continue to HH even after Dimon’s comments…
It was a good day even with few mistakes. Again, early addon my major concern for now.[/B][/B]
