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#FuturesTrades June 4th Monday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+10.40	+10.40	+1390.80
$1,040	$1,040	$139,080

click on image to view actual size

Current Performance Record

Intermarket Analysis

Profit/Loss Statement

Today's WRB Analysis: I'm back from my vacation and the first thing I noticed in today's price action are three WRB's that briefly pushed into s/r zones before retracing strongly.

The most impressive WRB was the Dark WRB @ 1051am est via the 3min chart in the Russell 2000 Emini ER2 futures.

It was the first WRB as an intraday low and then the price action in the following two intervals signaled a bullish pattern signal from the Swing Trading Report (STR) @ 1057am est via the price action in its exchange traded fund IWM.

It reached a WRB profit target 6 level around 1524pm est or about $480 dollars per contract. However, even though I didn't trade that particular pattern signal...some of the fee-based clients did trade it along with a few of them with multiple contracts.

Note: I don't post charts to reflect all the above commentary because I want you to open your own charts to correlate with my comments so that familiarity will help ensure that the price action being described by me is researched and that in itself will help you understand a little more about the price action.

General Strategy Info: Currently, I'm exclusively trading the Russell 2000 Emini ER2 futures even though my strategies are applicable and profitable on all the trading instruments listed towards the bottom of this webpage along with my past trade journals showing consistent profits in other trading instruments prior to exclusively trading Emini Futures ER2.

In addition, I use a rule based (no subjectivity) methodology via my best strategies involving WRB Analysis. However, there are other key variables integrated with WRB Analysis that involves simple concepts of intermarket analysis, market seasonal tendencies, volatility analysis, support/resistance zones and position size management along with custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades. Also, I use the user name NihabaAshi in the below trade posting chat log.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Mon Jun 04 09:30:36 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:30

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrades.htm

<jperl> bounce off the 852.63 pivot 09:31

<eminitrader> Long ES @ 1534 09:32

<grabthemoney55> gm 09:33

<eminitrader> Exited 1/3 ES Long @ 1535 --> + 1 09:34

<jperl> ER2 bounced off Friday's peak volume 854.30 09:36

<eminitrader> Exited ES Long @ 1535 --> + 1 09:38

Reverse and Enter Short ES @ 1535

Covered all ES Short @ 1535.75 --> - 0.75 09:40

<jperl> ER@ bounced off 854.03 pivot

<eminitrader> Shorts ES @ 1536 09:41

Covered all ES Short @ 1536 --> 0 09:44

Shorts ES @ 1537 09:45

Covered all ES Short @ 1537 --> 0 09:47

<base> gm

<szubaark> Shorts NQ @ 1536.75 «« paper »» 09:48

<eminitrader> Shorts ES @ 1537 09:49

<pat255> gm...

hmmm em mkt will never go down ahain ever..lol 09:50

<szubaark> Shorts ES @ 1536.75 «« paper »»

<pat255> stuck @office.. 09:51

:(

<eminitrader> nq gap filled

<szubaark> Covered all Short ES at 1538 --> - 1.25 «« paper »» 09:53

<NihabaAshi> Price action within the range of Friday's price action.

<Brutus> 10:00 factory orders 09:55

<NihabaAshi> Shorts ER2 @ 854.60 -> small size

<eminitrader> looks like that may fuel gap fill on ES B

<NihabaAshi> 1 contract only

<szubaark> Shorts ES @ 1537.25 «« paper »» 09:56

<Brutus> also may use it for a good shakeout b4 gap fill

normally there is some sharp reactions

<eminitrader> yep

<Brutus> on such a gap down 09:57

<eminitrader> Shorts ES @ 1537 -> Add

<NihabaAshi> Covered ER2 Short @ 853.90 --> + 0.7

<eminitrader> sell confirmed by pa ...lets see if it will hold...

can see a pullback atleast i think 09:58

Trading Edge:
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If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management with a money back guaranteed policy...click here.

Trading Strategies -> These strategies, from entry to exit, will exploit inefficiencies in the price action of your trading instrument for profits in the following trading instruments via WRB Analysis: Emini Index Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<jperl> ER2 @ VWAP 853.50

<NihabaAshi> Key Economic Report: 10am est Factory Orders

<szubaark> Covered all Short ES at 1537.25 --> 0 «« paper »» 10:01

<eminitrader> Covered all ES Short @ 1537 --> 0

:( 10:02

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 10:03

<NihabaAshi> Shorts ER2 @ 853.90 -> small size

<eminitrader> looks like we got taken szu ..:(

<NihabaAshi> 3 contracts only 10:04

<szubaark> yup.. shook us out

<eminitrader> hate the feeling when this happens

thought we were in for the gap fill 10:05

<NihabaAshi> I don't like what I see in this price action after my entry.

<jperl> lots of congestion now in VWAP pivots....

<pat255> guys biab meeting ..:( 10:06

<NihabaAshi> By the way...my entry is a 852.90 and not a 853.90

Will correct...

<eminitrader> Long ES @ 1536

<NihabaAshi> Shorts ER2 @ 852.90 -> small size

<jperl> http://charts.dacharts.com/2007-06-04/JP ERL_0130.png

<eminitrader> think the pullback is done ...now for the gap 10:07

<NihabaAshi> Covered ER2 Short @ 853.90 --> - 1

Reverse and Enter Long ER2 @ 853.90

<szubaark> needs to take out 1538 for me to go Long 10:08

<eminitrader> Exited 1/3 ES Long @ 1537.75 --> + 1.75 10:09

<NihabaAshi> Long ER2 @ 854.40 -> Add

<szubaark> Buys ES @ 1538.25 «« paper »» 10:11

<NihabaAshi> Exited 1/2 ER2 Long @ 855.50 --> + 1.1

Exited ER2 Long @ 855.80 --> + 1.9 10:12

Holding 1 contract

<eminitrader> Exited 1/2 ES Long @ 1538 --> + 2

holding 2 10:13

<szubaark> good entry emini

<eminitrader> thx szu 10:14

<NihabaAshi> There's a lot of resistance up here...not sure if ER2 has the strength to push above the 856.50 price area 10:16

Exited Remainder ER2 Long @ 854.40 --> + 0.5 10:17

<eminitrader> Exited Remainder ES Long @ 1537 --> + 1

<jperl> ER2 @VWAP 853.81 10:21

peak volume @ 854.10

<eminitrader> Long ES @ 1536.75 10:23

<jperl> I'm done for the morning....

trades here...

http://charts.dacharts.com/2007-06-04/JP ERL_0131.png

<eminitrader> Exited all ES Long @ 1537 --> + 0.25 10:25

gotto go

<intowin> cya nice trading 10:26

I am looking for a 1541 short if we get it

<NihabaAshi> Shorts ER2 @ 853.10 -> small size 10:31

2 contracts only...still keeping my position size small for my first trading day after vacation.

Shorts ER2 @ 853.50 -> Add 10:33

Covered 1/3 ER2 Short @ 853.00 --> + 0.5 10:34

Covered 1/3 ER2 Short @ 851.80 --> + 1.3 10:38

Too bad I had "reaction lag" when I saw the Short signal @ 855.00 around 1017am est :( 10:40

Covered Remainder ER2 Short @ 850.70 --> + 2.4 10:41

<szubaark> Exited all Long ES at 1535.75 --> - 2.5 «« paper »»

<jperl> ER @ overnight low 850.20

<Boybrutus> Long ES @ 850.6 10:43

holding for ES gap fill 10:44

<RussellDaytrade> B, looks like you have joined the split personality club. 10:46

<Boybrutus> er 5min hammer

having some laptop probs 10:47

<base> Hammer is one of the patterns I like the most, but I hessitate to go on this one. 10:48

<jperl> ER2 bounced off the 849.30 pivot 10:51

<base> jperl: Where the line come from? 10:53

<jperl> 3rd STdDev of yesterdays VWAP

<base> jperl: Thanks 10:54

<jperl> here's a 4 minute chart showing the bounce of the bottom pivot... 10:55

http://charts.dacharts.com/2007-06-04/JP ERL_0132.png

<base> nice 10:56

849.30 is also the lower price of a window formed 05/31 - 06/01 so it acts as a S/R area. 11:02

<jperl> ER2 @ VWAP 852.92 11:13

<Boybrutus> Exited 1/2 ES Long @ 853 --> + 2.4 11:14

<NihabaAshi> nice 11:15

<Boybrutus> exit stop set ES @ 850.7

thx 11:16

Exited 1/4 ES Long @ 853.7 --> + 3.1 11:29

<jperl> I don't have my scalp hat on this morning... 11:34

but if you are in the mood for quickies, here's the place to do it...

we have yesterday peak volume @854.30...

previous close @853.90... 11:35

today's peak volume @ 853.70

fridays VWAP @ 853.68

today's VWAP @ 852.96.... 11:36

lots of congestion and bouncing around

<intowin> test 11:58

sorry having some probs

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 12:06

<NihabaAshi> Shorts ER2 @ 852.80 -> small size 12:14

2 contracts only

Shorts ER2 @ 853.00 -> Add 12:17

:( 12:19

Covered all ER2 Short @ 853.90 --> - 2 12:21

<Boybrutus> Exited all ES Long @ 853.7 --> + 3.1 12:23

<NihabaAshi> ER2 volatility has dried up...I'm expecting a volatility spike here soon... 12:28

If it doesn't happen...I'm going to lunch.

Long ER2 @ 853.30 -> large size 12:30

I'm on the low side of this large...looking to add if the s/r zone holds. 12:32

<eminitrader> Shorts ES @ 1539 12:35

<NihabaAshi> Exited 2/3 ER2 Long @ 854.20 --> + 0.9 12:38

Some obvious resistance here between 854.00 - 854.50 12:42

Might be time for me to call it quits and go to lunch...get some rest and return later. 12:43

Exited Remainder ER2 Long @ 853.50 --> + 0.2 12:44

Be back later...I got one of those headaches due to being extremely hungry. 12:45

* NihabaAshi is now known as NihabaAshi_lunch

<eminitrader> Covered 1/3 ES Short @ 1538 --> + 1 13:47

<szubaark> Shorts ES @ 1538 «« paper »» 13:59

<eminitrader> Covered Remainder ES Short @ 1539 --> 0 14:04

<szubaark> i wonder if the chop is due to the G8 Summit 14:28

<jperl> ER2 VWAP 853.12

peak volume 853.60

<ItalianSharp> szu, that might be one of the reasons...another reason i can think of is contract switchover on thursday 14:29

<szubaark> Italian thanks for reminding me about the rollover

<ItalianSharp> this week is triple witching week

np

* NihabaAshi_lunch is now known as NihabaAshi 14:39

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<Boybrutus> U thinking long EMT? 14:40

5 min hammers lookng bullish on NQ and ER 14:42

<PapaJon> Actually gents, this week is roll over week.. next week is quad-witching week.. :) 14:43

<szubaark> Covered all Short ES at 1538.75 --> - 0.75 «« paper »» 14:45

Buys ES @ 1538.75 «« paper »»

Exited all Long ES at 1538.50 --> - 0.25 «« paper »» 14:50

<eminitrader> late reply - no B think i'm done for the day 15:05

<Boybrutus> k

<eminitrader> but i were to trade it wld be to the long side 15:06

<Boybrutus> yes looks long to the close

<jperl> Stopping for the day, not much further action....trades here... 15:10

http://charts.dacharts.com/2007-06-04/JP ERL_0133.png

<eminitrader> shorts being clobbered ....all stops taken i guess 15:23

<RussellDaytrade> EM, the pa seems more like boiling frogs, then clobbering seals 15:46

<eminitrader> lol 15:48

<RussellDaytrade> looks like you are going to see your 1550 call after all, perhaps tomorrow...either way, I call that close a #$%^^& nuff! 15:51

<eminitrader> ithink we will see 1550-1570 before any meaningfull pullback 15:52

calling it is one thing but holding iit is what counts :( 15:53

<RussellDaytrade> you got your crystal ball dialed-in for beyond 1550? I am beginning to think this mkt wants to try on going a little parabolic.

<eminitrader> no Rd those were my original targets 15:54

<RussellDaytrade> gotta walk before you can run.

<eminitrader> gotto run befor we can sprint :)

<Fleneer> threw my crystal ball in the lake for lying to me. Figred my ouige' board could use the company.

<eminitrader> anywhich way - means we gotto learn to walk first 15:55

oouige board ??

<RussellDaytrade> mkt feels like it is firming from underneath th epast week or so 15:56

<eminitrader> this mrkts got me so pysched that i find it tough to take shorts even with half the regular size... 15:57

here's a sell set-up test of highs confirmed by pa ..signalled a pullback

even if this wld have occured earlier i wld have reduced size and thought twice before selling 15:58

<RussellDaytrade> may be an inner sense at work, a great tool and inner 'governor'.

<eminitrader> or the mrkt playing with ur mind ...which is what its very good at 15:59

<werner> gn all

<RussellDaytrade> in reference to post above, where I said it is firming from underneath...usually, about this time, is when the mkt goes off swiftly, for a day or so, at least so far this year...that said, to me it just feels like it may may move up first, who knows,,, 16:00

the negdiv's I usually nore developing about this point in the cycle are not as strongly negatively diverging. 16:01

<eminitrader> and the only clue its giving is its strengh...but the moves r so weak again giving confusing signals 16:02

<Fleneer> long ES 1541.00 16:03

<eminitrader> what i mean is - after this am hughe gap...it came back to fill it ..my system called the open/close set-up trigged a long @ 1538.75.- did not take it cause the pa was not stong or at least thats what i thgt- exit is 2 pts which 80% of the times occur within 2 - 3 bars on entry...but the mrkt pulled back from that level ...but then again after chopping went back to hit the target and beyond... 16:05

now when it pullbacks from that level ..expectation is it failed there and a retest of the lows is in the cards...but what happened later shows the strenght of the mrkt 16:07

wld have joind u F @ around 1540...but too late in the day for me 16:09

<RussellDaytrade> the er range has compressed the pat two days...yes, that is part of waht I refer to as frming from underneath...range will expand tomorrow, I think, in the er, and perhaps elsewhere

to the downside, is my prefernece 16:10

<eminitrader> think ES has an inside day today..if so ...cld be a breakout/breakdown day tomorow

on the ES

<RussellDaytrade> same with er, wanting down, but my interpretation at the moment sez more up. we'll soon see. 16:11

<eminitrader> will prolly see action like today RD

<Fleneer> -1.00 stopped out ES 1540.00 16:12

<eminitrader> with that sais see u tomorow RD 16:13

<RussellDaytrade> you mean another day of compressed range? I think it bolts...how about this, it goes up swiftly, then reverses, key reversal day! I'll take that! see you.

<X> #FuturesTrades Info -> Chat room for realtime trade posting by traders of Emini Futures (ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, QQQQ, SPY) 16:15

<NihabaAshi> I had a good (controlled) first day of trading after returning from vacation...kepted the position size small and still reached my 1k profit target for the day. 16:20

Take care all and see all tomorrow.

* NihabaAshi is now known as NihabaAshi_away

* DisconnectedSession Close: Mon Jun 04 16:21:49 2007 16:21

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In addition, below are the trading instruments our chat room members monitor closely to make trade decisions:

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NYMEX Energies Light Crude Oil CL, e-miNY QM and Natural Gas NG

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