ES short term trading 1-04-11


  • 2
  • BruceM
  • 4-Jan-2011 at 7:38 AM
  • Rep: 216k
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shorting into this 69 - 70 area for ultimate gap fill today but Ideal shorts are really near 73 - 74 as that is YD high area and R1 today....problem is that I'm not sure they will push it up there...

YD close and PV will be attractor I think down in the 64 - 65 area
  • 1
  • Lorn
  • 4-Jan-2011 at 9:28 AM
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ON Profile coming into the open. Should be interesting with price right at the O/N highs.

Click image for original size
onprofile01042011
  • 0
  • dubhasa
  • 4-Jan-2011 at 9:29 AM
  • Rep: 40
  • Posts: 7
Got in yesterday at 65 and out at 68.5. I agree with you that it may not go upto 73-74. If it goes, I may initiate short.
  • 1
  • BruceM
  • 4-Jan-2011 at 9:56 AM
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best so far is 65.25...I added at RTH open.....69 - 70 was POC and I have strong bias down to 58 area...as that is close to last years RTH highs...trying to hold runners but mixed feeling as we opened inside of YD range but we have a drive down which so far is good for us shorts,,,,
  • 1
  • BruceM
  • 4-Jan-2011 at 10:01 AM
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ideally I'd like to see us stay below the Midpoint of O/N...so 67 - 68 area is key with report coming...
  • 1
  • i1hunter
  • 4-Jan-2011 at 10:05 AM
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Good play Bruce! If 64 does not hold I have 1256.25 and R1 is there.

I think 64 is holding. Will see in next 5M.
If 64.00 holds, then 69.00 is first objective, 74.00 2nd objective.

Will see. in due time the ES will show me the way.

ES trading 1265.75 @ 10:05
  • 1
  • BruceM
  • 4-Jan-2011 at 10:07 AM
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weekly open print will be next stumbling block if they can keep the selling going....still not convinced...air above todays market so keeping a close watch for longs entering to go get that air...not reversing though..
  • 1
  • Lorn
  • 4-Jan-2011 at 10:09 AM
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Keep watching the euro. If it keeps selling off equities should follow.
  • 1
  • BruceM
  • 4-Jan-2011 at 10:17 AM
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pulling this in real tight into that 63.75...that is OR from YD trade...all air filled from YD now too and odds favor a pop up a bit..just not sure how far!!
  • 1
  • i1hunter
  • 4-Jan-2011 at 10:23 AM
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Long at 64.25. stp at 63.50.

First objective 1269.00, second 1273.50.
Will see if it works out.
  • 1
  • BruceM
  • 4-Jan-2011 at 10:32 AM
  • Rep: 216k
  • Posts: 19.9k
flat at 64.25...two day volume profile looks symetric so far so I think they may want to test 67 - 68 again......standing aside ...biggest volume bar sits at current days lows
  • 2
  • BruceM
  • 4-Jan-2011 at 3:19 PM
  • Rep: 216k
  • Posts: 19.9k
thanks for understanding and nice trades
Originally posted by dubhasa

Good point. My apologies Bruce. I am brand new to the forum and will take look. I will try to give my reasoning in future comments.
Regards.
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