ES short term trading 7-21-10
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
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
too bad im too slow to adjust and buy that 77! Kudos, Bruce and any one else who jumped on it! sigh...watching...
last contract is trying for 82.50...in front of air!!
Click image for original size
Yeah, I know it's an ugly chart but I know what it's telling me. Right here,right now, the only confluent Fib levels. Above good, below bad. I could make a case for each direction large using patterns. Remember to be suspect until. Still between 1003 and 1099 wave. Note I have up and down fib extensions. We pierced that dark blue downtrend line this am. Same one that held at 1099 area. Banks still under S/R level lost last week, but barely here.
Click image for original size
adding to my one contract at 79.25...long...may be a bit early on adding
three magic words..."tiples" and " air pockets"
BRUCE... is that what you call triples on 5 min, do you just trade for a stop run past that?? just curious what you expect as a tgt.
thanks
thanks
will only add again if they run the hour low before that triple...getting above the triple and this evil 80 area hopefully will go good for the hour highs
yes...I trade for them to get broken...anything beyond that is usually just lucky with runners...
Originally posted by chrisp
BRUCE... is that what you call triples on 5 min, do you just trade for a stop run past that?? just curious what you expect as a tgt.
thanks
interesting how hour low and On low not run....but they certainly good
failed triples go 8 - 10 points away quite often and I'm not short but my mind is thinking of my key 72.50 area and triple high price .....I know many have single prints marked at 75.50 too...but still long!!
failed triples go 8 - 10 points away quite often and I'm not short but my mind is thinking of my key 72.50 area and triple high price .....I know many have single prints marked at 75.50 too...but still long!!
Sounds interesting to me Phileo - looking forward to it.
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