ES opened with an OD type but was quickly reversed in the first 5 minutes. We then proceeded to trade up to globex highs at 1329.75 and reversed back down to try and close the gap at 1323.00. ES bounced off of IBL at 1325.00 and traded back up into POC on the day at 1327.50 which is the MCVPOC as well and chopped around for some time. We sold down breaking IBL and globex low and traded into my support area at 1322-1324 where i tried a long at. I was stopped here for -6 ticks and not really sure what i did wrong here. Any way we chopped around for a bit and popped back up into globex low where i should have taken a short but for whatever reason i didn't. I was thinking at the time that the market could trade back up into value. Which breaks one of my rules, "Don’t guess what the market is trying to do. Let the charts tell me" I was clearly guessing what the market was trying to do. We were moving lower all day and the market popped up to a pre defined resistance area and i didn't take it. The trade ended up going to extended targets for at least 3-5 points pretty quickly. This is an issue i have to overcome because i realize i do it a lot and it keeps me out of good trades. Overall ES placed the most value higher up but expended lower. We are starting to se weakness in the market so caution is needed playing the range going into tomorrow and this week.
