ES short term trading 7-21-10


  • 3
  • BruceM
  • 20-Jul-2010 at 11:45 PM
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Here are the zones I'm watching

1101 is low volume based on composite work


90.50 - 93 ***** HV area from the composite

85 - 86 - Fridays high and POC from Thursday

80 - 81 Tuesdays high and volume node

70 - 73 ************ key support, high volume , Va high ---Bold intentional

66 **** single prints

61.50*** High volume


56.50 ****high volume


My plan will be to sell rallies with high $ticks...especially if we gap up in RTH into one of our two key zones above today's highs....we know what usually happens after trend days
  • 1
  • sjzeno
  • 21-Jul-2010 at 4:59 PM
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1st +ve $TICK extreme away from 1075 was short covering,


Phileo what makes you believe that this was short covering. What do you see in the price action in conjunction with the $TICK readings to come to this conclusion?
  • 0
  • wvalen28
  • 21-Jul-2010 at 7:24 PM
  • Rep: 60
  • Posts: 8
Originally posted by koolblue

Well, im off to the crude pits tomorrow! Wish me luck! Ihope the analysis the past week or so has been useful to some ...Good trading all!!!



I will miss you!!! Good luck with crude oil
  • 0
  • Lorn
  • 21-Jul-2010 at 7:57 PM
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Interesting ideas phileo.

Have you ever studied Steenbarger's views on $TICK?

Here are some links:

http://traderfeed.blogspot.com/2010/01/reading-intraday-sentiment-with-nyse.html

http://traderfeed.blogspot.com/2009/08/identifying-nyse-tick-environment-and.html

I like to use a trend of the highs and lows of $TICK to see where the bias in the market is. Only a tool, not a trigger.

Originally posted by phileo


My own discretionary definition:
4 or more $TICK extremes during a 9+ pt move, then a super $TICK extreme (eg. +/- 1350 or more) into a prior S/R zone. The idea here is that last $TICK extreme creates an unsustainable condition.

I've been trying to trade this setup for a while now, it happens every day almost, the only problem is it's counter trend, and it's scary (for me) to be fading extreme moves.
  • 5
  • phileo
  • 21-Jul-2010 at 7:58 PM
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Originally posted by sjzeno


1st +ve $TICK extreme away from 1075 was short covering,


Phileo what makes you believe that this was short covering. What do you see in the price action in conjunction with the $TICK readings to come to this conclusion?


If there is enough interest, I will consider posting some videos (with links) of how I trade with $TICK in a new thread.
  • 0
  • BruceM
  • 21-Jul-2010 at 8:31 PM
  • Rep: 216k
  • Posts: 19.9k
count me in...always interested in the elusive world of the $ticks or just about anything you folks want to take the time to post..
  • 0
  • Lorn
  • 21-Jul-2010 at 10:19 PM
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Yea would love to see your work.
  • 0
  • sjzeno
  • 21-Jul-2010 at 10:56 PM
  • Rep: 424
  • Posts: 142
Lorn nice links those were good reads.

and Phileo I would definitly be interested in what you have to show everyone!
Sounds interesting to me Phileo - looking forward to it.
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