ES (E-mini S&P 500)
ZB (30 Yr T-Bonds)
G6E (Euro FX)
I finally had a bonds trade work according to my plan: I entered long at 8:35am EST at the market when the first bar of the day closed with above average volume. My volatility stop was 30 ticks and my initial profit target 60 ticks. I am still in recovery mode with my account, so I aggressively moved to break even, then locked in profits while staying back 10-15 ticks from the price action. Once I'm back in the positive for the month I'll follow the rules and stick to the green line with my stop until I get stopped out. For now I'm very happy to take another $500+ from the market - "thank you Market!".
In the Euro FX I took 2 trades today; the first trade at 8:45am EST I entered at the market on a nice thrust bar with strong volume using a volatility stop of 39 points and an initial profit target of 78 points. As the trade progressed I moved my stop following the green line before getting stopped out for less than maximum loss. Too bad, but it was a well-managed trade.
The second Euro trade at 11:15am EST was a nail biter - again I entered on strong close above the trend on volume, using a volatility stop of 44 points and initial target of 88 points. The price actually came all the way down to within 2 ticks of stopping me out before continuing in a nice upward push. When the push came I aggressively locked in profits when the price very quickly moved up to 1.2860. My goal here was to take some money off the table and protect my earlier gains in the bonds.
I watched the markets in the afternoon but didn't take any more trades; however, I did paper trade the S&P E-mini using a Fibonacci Support/Resistance indicator. On this trade the price action was contained between the 0% and 38% Fibonacci levels, so when the price bounced off the 38% I went long at 841.50, and aggressively locked in profits before getting stopped out with 3 points and $150 at 844.50. My stop was just below the 38% level at 836.25 but was never tested. I'm not sure I'd be confident enough to place this trade live but I will continue to use the Fibonnaci levels as an indicator for possible trend entry/re-entry values.
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