ESZ10 – E-Mini S&P (Last:1191.25)

The Hidden Pivot support at 1184.75 where I’d suggested bottom-fishing yesterday is still valid, so let’s try again using the same 1.00-point stop-loss that was originally advised.  You could try once more at 1177.25, stop 1176.50, if the trade fails, since that’s where the futures will likely be seeking another opportunity to bottom. _______ UPDATE (10:10 a.m.ET):  This one hit a dead-center bullseye.  The futures came down to exactly 1184.75 on the opening, then rallied 4.25 points to 1190.00.  Since we used a three-tick stop-loss initially, partial profit-taking and/or the implementation of a can’t-lose trailing stop was implied at 1187.00, nine ticks above the entry. The futures subsequently made a secondary low at 1184.50, but because the move down created no new impulse legs of even minor degree, you could still be holding some contracts at your discretion.