ES short term trading 12/21/10


  • 2
  • i1hunter
  • 20-Dec-2010 at 11:08 PM
  • Rep: 1,730
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ES is currently testing a resistance trend line seeing in the daily Chart.

I'm looking for the ES to open gap down possibly 1237. MdP area then move up again to test that resistance trend line at 1246.00 or so.

O/N currently trading 1245.25 @ 23:08

Moving above 1247.00 will void the above.
  • 1
  • koolblue
  • 21-Dec-2010 at 10:44 AM
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Click image for original size
1004
  • 2
  • BruceM
  • 21-Dec-2010 at 11:11 AM
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I like to see a half gap fill in the first 45 - 60 minutes and also like to see R1 or S1 tested in the first half hour...nothings perfect though.....I don't "do" breakouts so if we start getting 30 minute closes below the O/N high then that may be a good indication to get short and try for 1/2 gap and gap fill today



so far , no doubtthe bulls r winning
Originally posted by optimusprime

when do gaps become insignificant? 1/2 gaps? Your help would be greatly appreciated.
  • 0
  • BruceM
  • 21-Dec-2010 at 11:35 AM
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looking to sell above hour highs if 47.25 doesn't get run first
  • 0
  • Lorn
  • 21-Dec-2010 at 12:02 PM
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Bruce could you call you friends at the exchange and tell them to quickly run them trips down at 37.75. Thanks!
  • 2
  • NIGEL68
  • 21-Dec-2010 at 12:45 PM
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  • Posts: 34
Hello KB!

I am so glad to see you back posting! looking always for your posts!

Please keep posting, love your strategies and tools!

Diana

Originally posted by koolblue

Click image for original size
1004

  • 0
  • BruceM
  • 21-Dec-2010 at 1:03 PM
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ok..but first we need to clear up the 47.75....today ..hopefully....
Originally posted by Lorn

Bruce could you call you friends at the exchange and tell them to quickly run them trips down at 37.75. Thanks!
  • 1
  • BruceM
  • 21-Dec-2010 at 1:33 PM
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oopps ..that's 47.25....also triples near highs and multiples at the 48.75 lows....the problem with longs in general and this low volume is it will only take a day or two of increased volatility to wipe out all failed triples....on the downside.....


a perfect hit into the key 50 number to the tick with volume diverging but that high is still suspicious....I'm still using 50 - 52 as the real key area up here
  • 1
  • i1hunter
  • 21-Dec-2010 at 2:00 PM
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I'm targeting up to R2 1251.75. and possibly 1252.75. (1.618 at 1252.75)

So far today's 50% from intraday range is at 1247.50. I think that If was to retrace, it will find support in that area. If not my 2 runners will be stop out at 1247.00.
  • 1
  • i1hunter
  • 21-Dec-2010 at 3:24 PM
  • Rep: 1,730
  • Posts: 268
Moving stop up to 1248.50, sacrifice 1, to get 2 or better
ES trading 1249.25 @ 15:23

We'll find out in the last 15m of the session.....
  • 0
  • i1hunter
  • 21-Dec-2010 at 3:55 PM
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out at 1250.25. Will see what we have tomorrow.
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