20/04/10



Picked up into the long position because: 1) $add have strongly posted higher high (calling for upside breakout of the triangle appeared on the ES chart) and 2) internals were in favor w/ only 2 $tick below -600 and 3 $tick above +1k. Triangle was really broken out to the upside but to my surprise: 1) there was no $tick confirmation of the market upside move and 2) $add was even sliding. That were appropriate reasons to fix the trade.

But the market continue to trend higher. Nevertheless, soon I did entered short position betting on the pullback, cause: 1) small bearish multi divergences have appeared on the ES chart, plus 2) there was, putting it lightly, no $add higher high. Closed the trade just as the opportunity to fix the banch of cash have appeared. The market just gone crazy - I couldn't explain it by other words - and have executed by rules and means I have never seen before. We did have huge volume but no acting and $add performance uncorrelated w/ the market. Strange things are at a place. Overall, do like my todays execution and the reasons of the trade open.

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ES (S&P 500 E-mini futures) trading
by Meques Moscow Finacial