REVIEW OF MORNING TREND TRADE & ZERO TICK LONG ENTRY 05-14-2013

Quick review of morning trade:

ES gapped to the top of  the value area and to the back of the WHITE ZONE.  Back of the WHITE ZONE often provides great short location with a tight stop.  The close above the WHITE ZONE placed buyers in control   Tweeted that I am looking for a long position.  with no dip back into the WHITE ZONE the first opportunity came at the first zero tick as highlighted on the chart and an excellent entry at 1635.75 as tweeted.  I scaled a bit early and left a trailer which it turns out I scaled early to but +6 is really nice trade.  warned repeatedly that shorting is an epicly bad idea.  Market has traded up & into 1644-4646 Initial Resistance.  I expect sellers to materialize at Initial Resistance but as noted earlier,  shorting even here is for the brave at hart & simply dangerous for small accounts.  Even if you missed every long entry.  Not being short today could save you unlimited stress & distress.  For me,  not taking a losing trade is as valuable as a winning trade. I am looking for an extreme tick to put a cap on the buying.  +600 is best high tick so far.

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Trade Plan:

1 min chart:

A manager is responsible for the application and performance of knowledge.
Peter Drucker 

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