ESU12 – September E-Mini S&P (Last:1379.00)

The futures somewhat exceeded Friday’s peak, which itself was an inch from the 1383.50 target I’d proffered. An alternative target at 1392.25 given here subsequently looks shortable, but I’d have preferred to do so on a quick feint higher. Instead, coy as ever, the futures made a marginal new peak at 1387.50 before dropping back into a tedious dirge. The effect was to turn an easy move to a modest target into a potential three-day affair. Yuk! The target has become somewhat less appealing as a place to lay ’em out at our price with a tight stop-loss, but I’ll endorse sorting 1392.25 anyway provided entry is via camouflage. If any fills are reported in the chat room, I’ll establish a tracking position for your further guidance.  However, if you should boldly ignore my advice to initiate only via camouflage, your first profit-taking interval — on half the original position — should come when the trade goes in-the-black at least three times what your risked on the initial stop-loss.  You can learn how to do this stuff yourself — and more easily than you might imagine.  Click here for a free trial subscription.