ES S/R Map for 11-9-09

Here's what I've got for price action S/R levels coming into Monday. Viewed multiple time-frame charts but have this drawn on the 60 minute. As always, each price is a "zone" with a few ticks above and below as the "area." Have an actual "zone" drawn in that is WIDE from the 1069-1072 area where both individual prices are pretty solid but feel this will function as a zone. Obviously I prefer something no more than a couple ticks or so to each side of the line/price I've drawn in. But in this case (and based on others analysis) I think it appropriate to present it that way on the chart fwiw.



As always, encourage all to post any feedback and analysis!

after this break above ... looking for potential long on pullback around 83 ... still bothered by low volume ... (prob shouldn't be posting this since Bruce is short) ... I'm simply in for a scalp though and could end up subsequently short ... unless I end up taking a loss on this trade

long a couple @83.25 now ... stop @82.75

quote:

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Originally posted by MonkeyMeat

after this break above ... looking for potential long on pullback around 83 ... still bothered by low volume ... (prob shouldn't be posting this since Bruce is short) ... I'm simply in for a scalp though and could end up subsequently short ... unless I end up taking a loss on this trade

long a couple @83.25 now ... stop @81.75

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mistyped "stop" ... it's 6 ticks

Dunno about you guys but this low volume drift up makes me a little nervous...

In terms of S/R we are floating in no-mans land.

There is a 0.786 H-L retrace level at 1083.25

Still waiting for a miracle to 1089.00

booked only 3 ticks on two and out of the 83.25 long a little while back ... screaming sideways too long on low volume for this kinda scalp trade ... see room up to 87-88 if any decent volume emerges ... no real read for now though, so on sidelines

triples keeping me in...could be a mistake today...

me too PT...I have 9 working from average of 82.25 and a more disciplined trader would have been out long ago......I guess I should check the holdiday schedule...

quote:

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Originally posted by pt_emini

Dunno about you guys but this low volume drift up makes me a little nervous...

In terms of S/R we are floating in no-mans land.

There is a 0.786 H-L retrace level at 1083.25

Still waiting for a miracle to 1089.00

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That's me eating the loser at 85.25......cool day not to be short...LOL....Run and pause, run and pause...don't like starting the week in the hole but it's better for me to have the loss on a Monday than a friday...cool thing about these volume spikes is that the folks who monitor them and can adapt (obviously not me today) will use them as support to get long....classic Chart reading on a trend day...I suck at trends...nice call for you long folks today...u beat me....well done indeed!!

trying agin from 86.50...seems like they'll have to test some volume spike on the downsdie.....either that or I'm the sucker today

first real spike below here is that 83.50....u guys are strong today and subtle...

very nice on the 89 pt!!!

so far today no 30 minute bar has traded below the low of any other bar..haven't seen that in a while