Wednesday, February 11, 2009

ES 2/11

ES 10min

Pattern I'm looking to trade: Breakout of Ascending Broadening Wedge

Plan A (for breakout below ABW)
Entry Points (Shorts): Below 826, at no specific points
Exit Points: 817, 813, 807

Plan B (for busted breakout)
Entry Point (Longs): above 832.5, at no specific points
Exit Points: 840, 849

2 comments:

Jennifer said...

thanks for the email, Ju. I wrote you (a semi-lengthy) reply just now.

Another important level to watch is the uptrendline on the ES dail chart from November lows to now @ 820.

Exit point for plan B at 849 is good as of course, 850 is major resistance as well as the 50 dma.

Jules said...

Hello Jane :-)
Yes, noted 820.
ES just broke above 832.5 and doing a 38.2% retracement...should be aiming for 837 I guess...