Home > ES Daily Plan > ES Daiy Plan 082912

ES Daiy Plan 082912

Commentary

In Asia, Japan +0.4%. Hong Kong -0.1%. China -1%. India -0.8%.
In Europe, at midday, London -0.5%. Paris -0.6%. Frankfurt -0.5%.
Futures at 7:00: Dow flat. S&P flat. Nasdaq flat. Crude -0.7% to $95.63. Gold -0.1% to $1667.40.

http://www.forexpros.com/indices/germany-30-advanced-chart

Econ Calendar

7:00 MBA Mortgage Applications
8:30 GDP Q2
8:30 Corporate Profits
10:00 Pending Home Sales
10:30 EIA Petroleum Inventories
1:00 PM Results of $35B, 5-Year Note Auction
2:00 PM Fed’s Beige Book

http://www.dailyfx.com/calendar?tz=-7&sort=date&week=2012%2F0513&eur=true&usd=true&jpy=true&gbp=true&chf=true&aud=true&cad=true&nzd=true&cny=true&high=true&medium=true&low=false

http://www.bloomberg.com/markets/economic-calendar/

Earnings Watch

Notable earnings before today’s open: FROHNZJASOJOYYGE

Notable earnings after today’s close: PTIVOWFT

Open Type

IR

Trade Scenarios

RTH PP: 7.75 (IR, 78% chance of tag)

– YR: 8.75
– YIB: 5

– YHI: 12
– YLO: 3.25

– ONH: 10
– ONL: 5.25
– ON Mid: 7.75

Bull/Bear Line:  10

Longs:

Rotational: If 10 becomes support looking for 12 (YHI/R1), 15-16.5 (R2),
Rotational:

PP Failure:

Shorts:

Rotational: If  10 becomes resistance looking for 7.75 (PP), 05.25 (ONL), 03.25 (S1),
Rotational: If 07.75 becomes resistance looking for

PP Failure: Yest LL, 60% prob of 03.25 tag

Stats 

OIR, Op>PP<R1

IR,Op>PP<R1 267
IR,Op>PP<R1 & PP hit 222 83.15%
IR,Op>PP<R1 & R1 hit 102 38.20%

RULES

1. 2 strikes at a level & you’re out, once hit twice in row have to take a 10 minute break

2. 3-4 strikes overall all day & you’re out (depending on size of each trade)

3. NO trading other instruments that you’re unfamiliar with

4. 1.5-2 max loss in ES, 3-4 in NQ,

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