This Is Why You Should Watch Prior Highs Closely

At 10:30 AM, ES (S&P
E-Mini) broke above the upper
Bollinger Band and hit a new high of
the day as you can see on its 3-minite chart below.

10:38:27 (from TradersWire)



Action

Symbol

Order Type

Setup

Stop

 Target

Current Price

Posted By

Sell

ES sell at the market pullback 1157 1154 1155.50

TK

It was a bullish wide range bar, but
ES could not close above the prior highs. In fact it immediately reversed and
fell back below the upper band. Notice the stochastic was also starting to turn
down. I placed a sell order at the market.

10:44:17 (from TradersWire)

Follow up on ES

It has hit our target. Cover half and move stop to breakeven.

If you have questions, feel free to
mail
them t me.