Nickajack Creek Trading Co., Inc.

Support and Resistance Day Trading

October 31st, 2007

11/01/07 Daily SRs

Here are the daily SRs for the YM, ES, and 6E (Euro futures):

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October 31st, 2007

10/31/07 YM Trades

I should have posted last night that today was a Fed day which usually are not worth trading until the Fed announcement.  I didn’t even look at the market until about 2 pm EDT.  To my surprise, the YM trended up nicely for most of the day into the Fed announcement at 2:15pm EDT.  I’m ashamed to say I tried a few highly risky momentum plays after the Fed announcement.  The volatility kicked my butt and dented my account.  I feel pretty stupid for losing discipline and getting caught up in the emotions of the market.  I should have stopped much sooner than I did.  I just have to lick my wounds and move forward again.

 I did not take any system trades today.  I took a snapshot of the YM chart just to show the SR levels.  I was amazed that even with movements of over 120 points in under 5 minutes, the YM stopped and reversed right on a daily SR.  As it moved back up, it paused and had troubles going through most of the SRs.  The same thing happened on the way back down.  This is not reflected very well on the chart because there was a whole lot of movement with tremendous volume in each 5 minute bar but in real-time the YM struggled to get through most levels.

10/31/07 YM Trades

October 30th, 2007

10/31/07 Daily SRs

Here are the daily SRs for the YM, ES, and 6E (Euro futures):

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October 30th, 2007

10/30/07 YM Trades

Today was another slooow day until the YM finally made a move towards the end of the day. I had a few system trades and I totally missed the potential divergence trades.  However, the divergences were not near an SR area, so they would not qualify as system trades.

10/20/07 YM Trades

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October 29th, 2007

10/30/07 Daily SRs

Here are the daily SRs for the YM, ES, and 6E (Euro futures):

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October 29th, 2007

10/29/07 YM Trades

Today was a tough day to wait through trades.  The market stayed in a range most of the day making trading opportunities few and far between.  I took 3 system trades, well actually 2 as I’ll explain below.

10/29/07 YM trades 

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October 28th, 2007

10/29/07 Daily SRs

Here are the daily SRs for the YM, ES, and 6E (Euro futures):

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October 26th, 2007

10/26/07 YM Trades

The YM moved pretty well today, ending up over 100 points.  Price worked a range between the 13811 and 13734 daily SRs until about 2:30pm EDT when it broke into a new daily high.  Today’s trading was all about waiting for trades to develop because each trade seemed like it took forever to unfold.

10/26/07 YM Trades 

Trade 1 – The YM was definitely trending up having formed a HH at the 13734 daily SR.  When it made a pull back to the 13776 SR, I was looking for a long trade setup:

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October 25th, 2007

10/26/07 Daily SRs

Here are the daily SRs for the YM, ES, and 6E (Euro futures):

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October 25th, 2007

10/25/07 YM Trades

Today provided may opportunites for trades as the YM moved down 60+ points, then up 100+, then down 175+, then back up 130+.  I’m continuing my ES scalping training and did not trade the YM.  I was caught up in the minutia of a 50t ES chart while the 5 minute YM chart provided many spectacular trade setups.

10/25/07 YM Trades 

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