ES Short Term Trading 5-11-10


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  • MonkeyMeat
  • 10-May-2010 at 9:32 PM
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Here's the Price Action Support Resistance levels that I see. With the way the market has acted with all the volatility, they're spaced relatively wide apart ... and should be, as always, taken as "zones" give or take a point or two in this market.

Here's the 30m chart with S/R lines in Red and the Cyan dashed lines are the Wkly pivot prices ... Magenta line is semi-significant. Hope this is a helpful map.

Click image for original size
es 30m sr levels for 51110
  • 0
  • BruceM
  • 11-May-2010 at 10:05 AM
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looking for 46.50 to print...lv
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  • TraderF
  • 11-May-2010 at 10:30 AM
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i exited a long for profit early. not sure why its struggling at 53-54.
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  • BruceM
  • 11-May-2010 at 10:33 AM
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I think they want to retest that 46 - 47 and trying to trade for that....TraderF it was peak volume ..as per volume not TPO's..if this high holds they will make new lows below yesterday..that would be runner targets


NQ didn't make new highs there


Originally posted by TraderF

i exited a long for profit early. not sure why its struggling at 53-54.
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  • BruceM
  • 11-May-2010 at 10:39 AM
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mionus 800 $tick needs to ignite sellers...otherwise they will go run outthe hour range highs.....I was hoping for the lows..
  • 1
  • TraderF
  • 11-May-2010 at 10:47 AM
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here is a channel that we seem to be stuck in.


Click image for original size
flag pole
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  • koolblue
  • 11-May-2010 at 10:57 AM
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718
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  • BruceM
  • 11-May-2010 at 11:00 AM
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Nice TF..all eyes watching that spinning top, thing-a -ma-bob at the 51- 52 number...if they accept it they will get that double top and gap fill and if not it will go back to 46 - 47 and break the hour lows and yesterdays lows...

Persoanlly I'm not sure...but I'm bias to shorts..which means it will go up...LOL
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  • koolblue
  • 11-May-2010 at 11:05 AM
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Click image for original size
719
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  • feng456
  • 11-May-2010 at 11:11 AM
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followed my plan to the letter
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  • TraderF
  • 11-May-2010 at 11:14 AM
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i'm actually biased to the upside.

i should have moved my trade to breakeven and left the room. this is hard to trade visually. it would have been breakeven or double what i made. Double turned out!

if we can get above these highs....which today is a positive day so far and seems to be trending up...i think 72 is possible. from there it catches back up w/ the down trend and will likely be a decision point.
Originally posted by redsixspeed

Originally posted by feng456

followed my plan to the letter

==================================================================
Hey feng;

Record your trade from time to time. Call the trade as you
see it setting up, record what you say then go back later
listen to what you did right. This may be a good teacher...


You might also want to record what you're up to in the Trading Journals section of the site. Create a new topic for yourself and post what you're up to and when you didn't follow your plan.
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