ES Short Term Trading 6-7-10


  • 2
  • MonkeyMeat
  • 6-Jun-2010 at 10:26 PM
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Here's my charts with Price Action S/R levles ... significant ones in Red and semi-significant in Magenta. The Cyan dashed lines are the Weekly Pivot levels.

First is the Daily ES chart:
Click image for original size
es daily for 6710

And the 30-minute bar chart of 20 days:
Click image for original size
es 30m sr for 6710
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  • sjzeno
  • 7-Jun-2010 at 1:51 PM
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is there air at 65.75-66?
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  • BruceM
  • 7-Jun-2010 at 2:17 PM
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outside bar on 30 minuet should lead us to the 61.25 print..!damn..toolateof a post
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  • BruceM
  • 7-Jun-2010 at 2:19 PM
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No...not as I define it...the ONLY way we can have air now is if we get a new closing 5 minute low or high and the portion of the bar that doesn't overlap will be the air........


I think some try to use air inside ranges,,,I suggest we come up with a new name for that....Phileo or Kool you guys want to give some examples of your alternate air....
Originally posted by sjzeno

is there air at 65.75-66?
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  • BruceM
  • 7-Jun-2010 at 2:23 PM
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this selling now seems to be only adding "BUYING " tpo's underneath the POC...so I'm not trying to follow this down....we may have another rally up that may lead to a break of this tight range...

I think they will wantto test 1065 again from down here...anyway , I'm cautious on any short side here...unless new lows...then I may go with that break down
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  • koolblue
  • 7-Jun-2010 at 2:28 PM
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long from 1060.25... cant sleep!...perfect timing on getting up!... coveruing one at 1062and moving stop to b.e. for the runner
1
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  • koolblue
  • 7-Jun-2010 at 2:30 PM
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Bruce you are quite right about my view on 'air'... not sure what to callit except as you can see today, its very powerful... perhaps just 'magnet'

.?
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  • koolblue
  • 7-Jun-2010 at 2:31 PM
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covering the runner here...1062.75
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  • koolblue
  • 7-Jun-2010 at 2:33 PM
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next strike ... 1057.00?
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  • hari
  • 7-Jun-2010 at 2:41 PM
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Originally posted by feng456

im going to short the open.

Hi feng456,

Can you please tell how you determined your market bias for today's open?

Hari
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  • feng456
  • 7-Jun-2010 at 2:45 PM
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Originally posted by hari

Originally posted by feng456

im going to short the open.

Hi feng456,

Can you please tell how you determined your market bias for today's open?

Hari


The details are in the thread My Trading Plan. However, to save you time, I'll give you a brief here. Basically using BruceM's ratchet levels, i saw that right before open the market had tested 68.75 and dropped below it. Therefore, I decided that I was going to go short away from it towards 62.50 area.

This is in testing mode.
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  • feng456
  • 7-Jun-2010 at 4:30 PM
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Originally posted by BruceM

a bad close below that spike bars low leads me to believe that the 38 - 37.50 will be tested soon...


probably overnight eh?
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