ES short term trading 8-11-10

Volume numbers I'm using on Wedsneday from the RTH session

1111.25

1114.50

1118.75

We'll confirm in the mornming once O/N session completes.

trying again from 90.25

88 - 89 is the zone to watch for me down here...need to see a volume flush

Another look at 30 min PRC.

the good and bad thing about these volume zones is that they don't usually just "V" bottom...so expecting a big rally off the first test is more times than not a mistake....

now the good thing is that it provides you TIME to re-enter on the second test....


Much like they did with the key 95 - 97.50 zone..

lest see what we can get out of this...

what a joke. one trade, profited two ticks.

L versus Open has fallen below the 5 day average of L versus Open before 11:00am, usually not a bullish sign and often leads to slow motion sideways with negative bias. can see a little lift (can be 3 push, watch out if only 2 push higher,
If that lift fails at first 15 minute range of RTH L (1094.50), would play downside on ABC sell.

RE price move below 5 day average of L versus Open before 11am, I have also noticed that if there is a test of this level (from below), first test usually gets rejected. Copincidentally, 5 day average of L versus Open for today is 95.80, so that 94-95 handle looks like likely to reject price on first test.

(for my style, waiting around for this kind of a move takes real patience which I don't seem to have today) I might be back later to see what happened, but I am just not as quick as Bruce and I tend to look for patterns that deliver protracted movement with limited downside (Limited downside if correct because I will move stop loss in a hurry if correct, or just get stopped if wrong.

good luck trading to all.
This certainly seems like a trend day lower to me.

if I had to pick two areas that they like to test, it would be the 60 and 90 minute lows and highs....so we need to get this into that 90 minute low

added at 88.50 print..looking for 91.25 test/////this could get tricky now so small...

air at 91.25 too....

all 6 off at air fill...filled at 91....flat......cool zone....lets see if they give us the low volume retest with some divergence

89.25 is the HV price down here to watch

two sets of single prints above so I favor the trade towards the 92 retest....the 89.25 is becoming peak volume...but slowly...

LOL Bruce I kind of felt the way you did about that post, however I am lacking your diplomacy when dealing with such feelings. I also have suffered in the past with trend days and like you are becoming more able to deal with them. Like you with the ES down 25+ and average range recently at 23-25 Shorting or looking for more downside for the day seems like a very low probability. Standing aside for both of us was certainly a wise move.