ER2-2006-12-26-TRADING-PLAN
Still bearish from last week’s action. Daily breakdown channel confirmed. 60min still in falling channel. Will short on rallies. Resistance is 789, support is 781 and 776.

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12/26/2006ER2-2006-12-26-TRADING-PLANStill bearish from last week’s action. Daily breakdown channel confirmed. 60min still in falling channel. Will short on rallies. Resistance is 789, support is 781 and 776.
12/21/2006ER2-2006-12-20-TRADING-PLAN-1-SHORT-790.3-EXIT-788.73 trades. First long, from continuation from late afternoon bullish action from previous day. 2nd trade saw a top near resistance 797 from globex high and from the rising trendlines from 60-minute charts. Waited to o long and had to leave. 3rd trade from what’s left of the downtrend. Shorted the rally until consolidation was reached.
ER2-2006-12-20-TRADING-PLANLong term channel on 60-min chart is broken in middle of confirming and symmetrical triangle. A new falling channel formed yesterday. Will look to continue late yesterday’s rally for scalps but paying close attention to confirmation from channel breadown.
12/20/200612/19/2006ER2-2006-12-19-TRADING-PLAN-1-LONG-783.9-EXIT-786.4Took 3 trades. First was short but it was near 781 support and got stopped out. 2nd trade was long but was confused about direction so closed early. 3rd trade was long after seeing the higher low and moving past the opening price.
ER2-2006-12-19-TRADING-PLAN800 support is broken, now it’s used as resistance. Above 800 is bullish. 790 is nearest resistance for today, but still bearish above 790, 796 is 50% retracement. 60-min bottom trendline is broken below but not confirmed. Overall, last 2 days is a correction of a bullish trend.
12/18/2006ER2-2006-12-18-TRADING-PLAN-1-LONG-800.5-EXIT-STOP-800.6entry 800.5 as it was breaking higher than last bar high, stopped out at 800.6 for breakeven. Didn’t move stop, was waiting for higher low to form and didn’t.
ER2-2006-12-18-TRADING-PLAN800 is weekly support. Watching for higher low for longs. Bull flag is still in play while symmetrical triangle still need confirmation. Above 805 is bullish, below 800 is bearish
12/15/2006ER2-2006-12-15-TRADING-PLANStrong market pulling back. Bull flag and symmetrical triangle confirming. 800 is possible support before more upside is seen. Target is 809 for triangle and 819 for bull flag. Will buy pullbacks.
12/12/2006ER2-2006-12-12-TRADING-PLAN-1-SHORT-796.0-EXIT-794.3Shorted rally after the breakout from the triangle. It was 2nd rally, normally would like to short first failure and first rally. Took quick profit as it was at S2 and support near rising trendline on 3000 tick.
ER2-2006-12-12-TRADING-PLANTriangle formed since last week. Not much action until this morning when it rolled over and broke the rising trendline. Bearish short-term but in daily it’s sitting at lower rising trendline.
12/5/2006ER2-2006-12-05-TRADING-PLAN-2-LONG-799.1-EXIT-801.6Long trade. Higher low formed just above opening number. Stopped at R1. Could go to 804 but no guts today.
ER2-2006-12-05-TRADING-PLAN-1-SHORT-797.3-EXIT-796.5Scalp here. Saw the 799 as resistance, gap filled down and showing lower high.
ER2-2006-12-05-TRADING-PLANLooks very bullish but 799 is still resistance, at top trendline of channel. 788 is now support and 804-805 is near term target for triangle, double-bottom
12/4/2006NEWBIE-TRADER-ER2-2006-12-04-TRADING-PLAN2b bottom pattern form but has to confirm, a pullback to find new support would do the job. Still bullish here. Support is 781, next resisnace is 785-788.
12/1/2006ER2-2006-12-01-TRADING-PLAN-3-LONG-779.3-EXIT-781.0Higher low from double-bottom in 600 and 200 tick charts. Long 779.3, exit 781.0, just above S1.
ER2-2006-12-01-TRADING-PLAN-2-LONG-777.5-EXIT-778.4Wedge breakout, should wait until seeing higher low on 200 tick, long 777.5 for scalp. Exit 778.4.
ER2-2006-12-01-TRADING-PLAN-1-LONG-779.7-EXIT-778.4short 779.7 on lower low and below S1. Exit 778.4, scalp only after coming in market late.
ER2-2006-12-01-TRADING-PLANRising plines are in play, looking to buy on pullbacks. 785 might still be support early morning. 780 is next support, 792 next resistance. Above 792 is bullish. Below 780 bearish.
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