Home > ES Daily Plan > ES Daiy Plan 09112

ES Daiy Plan 09112

Commentary

In Asia, Japan -0.7%. Hong Kong +0.1%. China -0.7%. India +0.5%.
In Europe, at midday, London -0.4%. Paris -0.5%. Frankfurt -0.1%.
Futures at 7:00: Dow +0.2%. S&P +0.2%. Nasdaq +0.1%. Crude +0.1% to $96.60. Gold +0.1% to $1732.90.

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

Econ Calendar

7:30 NFIB Small Business Optimism Index
7:45 ICSC Retail Store Sales
8:30 Trade Balance
8:55 Redbook Chain Store Sales
10:00 Consumer Confidence
1:00 PM Results of $32B, 3-Year Note Auction

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

None

Open Type

IR

Trade Scenarios

RTH PP: 30 (77% prob tag)

– YR: 12.25
– YIB:

– YHI: 38
– YLO: 25.75

– ONH: 32.5
– ONL: 21
– ON Mid: 27

Bull/Bear Line:  27-28

Longs:

Rotational: If 27-28 becomes support looking for 30 (PP), 32.5 (ONH), 34 (R1)
Rotational: If  30 (PP) becomes support looking for 32.5 (ONH), 34 (R1), 38 (YHI)

PP Failure/PP Confirmation:

Shorts:

Rotational: If 30 (PP) becomes resistance looking for 27.5 (PP), 26 (YCL, YLO), 21 (ONL)
Rotational: If 27-28 becomes resistance looking for 26 (YCL,YLO), 22 (S1), 21 (ONL)

PP Failure/PP Confirmation: LL, Close < PP, 60% prob of 25.75 tag

Stats 

OIR, Op>PP<S1

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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