ES short term trading 7-20-10


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  • koolblue
  • 20-Jul-2010 at 6:36 AM
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When i projected much lower prices,last weekend, few believed it. Everyone was looking for another 1100 test and higher. You probably wont believe what i feel comes next either! lol.. But enough macro crap, heres a snapshot of the near term ,going into the morning....
Click image for original size
913
  • 0
  • BruceM
  • 20-Jul-2010 at 2:24 PM
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last contract is going for 67.75 or else 73.75 will take it out..67 area is another low volume zone and what happens is if the buyers step back in the will make new highs.off the 70.50.if they don't I should get my 67 number
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  • BruceM
  • 20-Jul-2010 at 2:26 PM
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69 - 70.50 is also 60 minute poc's...so it is not unusual to see volume create low breakout areas on the histogram
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  • BruceM
  • 20-Jul-2010 at 2:27 PM
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lets see if they can get this 2:30 ( 60 minute close ) under 69!!
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  • BruceM
  • 20-Jul-2010 at 2:36 PM
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that's my runner taken out....that was even risk to reward on runner when price was near 70.50...so I lost 3.25 points of equity to try and make another 3 .25 down into 67 area... hard to get balanced risk to reward sometimes...
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  • Lorn
  • 20-Jul-2010 at 2:37 PM
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You can say that again.

And of course we are in this ugly 2:30-3:00 time zone.


Originally posted by BruceM

that's my runner taken out....that was even risk to reward on runner when price was near 70.50...so I lost 3.25 points of equity to try and make another 3 .25 down into 67 area... hard to get balanced risk to reward sometimes...
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  • DavidS
  • 20-Jul-2010 at 2:39 PM
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Stocks hanging near highs,1 1/2 hr left and all 1 hr bars green except low bar,and this last bar is trying for green at the upper range. We're above both 50% S/R lines. Not a coin toss but opportunity will be there if new highs, short might not get a second shot, that's my reasoning. 1080 is a target and a lot of people looking for it. Hope is both good and bad. Trade off the AM seems too easy to reward the masses. We'll see.
  • 0
  • BruceM
  • 20-Jul-2010 at 2:40 PM
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I'd like to try one more short If I could find it...seems likely to test 69 - 67 still..will try a sell at 70.50 if $ticks don't surge on that area and assuming it drops
  • 0
  • BruceM
  • 20-Jul-2010 at 2:53 PM
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I'm done for today...79 - 81 is next key zone if the buyers have the power...don't really have a clue but the fact that they held the 70.50 so far should mean something..I would assume that anyone who bought 70.50 wants new highs..so if they can't get that and we come back to 70.50 then that is telling us something
  • 0
  • BruceM
  • 20-Jul-2010 at 2:56 PM
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profile want 70.75 again to round it out
  • 0
  • DavidS
  • 20-Jul-2010 at 3:17 PM
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stopped out 1076
can reverse now maybe
  • 0
  • Lorn
  • 20-Jul-2010 at 11:21 PM
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  • Posts: 1,406
Thanks for the posts Bruce.

I'll leave you alone to gets some rest up for tomorrow.
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