ES short term trading 7-20-10


  • 3
  • 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
  • Lorn
  • 20-Jul-2010 at 11:06 AM
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Definitely struggling with this 1062 area.
  • 1
  • koolblue
  • 20-Jul-2010 at 11:07 AM
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Lorn, see how on that last little pullback the red avg held it perfectly? (1058.75) now the plot thickens as that last 5 min bar was the expected cycle peak.. hopefully see some weakness over the next 20 min or so to get long for a run to 64.50-66...but we'll see
  • 0
  • Lorn
  • 20-Jul-2010 at 11:09 AM
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Yea I see it. Interesting that we are now past 11:00 and heading straight into the so called slow lunch period.

Originally posted by koolblue

Lorn, see how on that last little pullback the red avg held it perfectly? (1058.75) now the plot thickens as that last 5 min bar was the expected cycle peak.. hopefully see some weakness over the next 20 min or so to get long for a run to 64.50-66...but we'll see
  • 0
  • koolblue
  • 20-Jul-2010 at 11:10 AM
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if we just continue up to there i'll sell it as it will likely be a prc sell
  • 0
  • DavidS
  • 20-Jul-2010 at 11:15 AM
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Green horizontal line target hit. Sooner than I would have liked.
  • 2
  • BruceM
  • 20-Jul-2010 at 11:18 AM
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yes Lorn...but please remembr this is all experimental for me...but yes to those levels...I have 65 - 66 as the real key now...
Originally posted by Lorn

Bruce,

I've been fiddling with 60 min volume as per your comments. Here is my chart. I see 1062 has big volume going back in O/N and yesterday. Is this resistance? And if prices get through would you be targeting that 1064-1065 area with light volume?



Click image for original size
hour

  • 0
  • Lorn
  • 20-Jul-2010 at 11:18 AM
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Why do you say sooner then you like?

Originally posted by DavidS

Green horizontal line target hit. Sooner than I would have liked.
  • 0
  • koolblue
  • 20-Jul-2010 at 11:19 AM
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Wll its not even close to a prc sell but i sold the projection at 1064.50, will add at 66 if necessary
  • 1
  • koolblue
  • 20-Jul-2010 at 11:25 AM
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Posted - 07/20/2010 : 09:31:17
My initial inclination would be to be a buyer at 1048.25 or a seller at 1061 or 1065-66. That could always change with price action , but thats how i'll play the early going..good luck all!
  • 0
  • DavidS
  • 20-Jul-2010 at 11:28 AM
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Gaming trades. Was looking for a pullback. Nice to hit but would have been better to add more. Greed...
  • 0
  • Lorn
  • 20-Jul-2010 at 11:21 PM
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Thanks for the posts Bruce.

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