ES Short Term Trading 01-20-2011

O/N Profile. Notice the blue 200-period moving average which prices have found resistance on...

Long one at 1277.50, just for a quickie, as i have to leave in about 20 min...

Bidding 1276.75 on the midpoint of the daily pivot and S1. Stop 1273.75 Target 1281.50

Theres the one min proj at 1276.50, now it has to turn here ... stop is 1276.00

Man, that was close!.. stop remains 1276.00, exit at 1279.00.. c ya! good trading all!!!

OUCH! STOPPED FOR A LOSS OF 1.5.. sTILL A GOOD DAY... C YA!

Originally posted by Lorn

Gap closed at 79.25

nice post so far, 74 also 50% retrace when it printed...

Originally posted by redmeansgo

Spoos are falling 75% of the time on Thursday before expiration into the 3:00-3:20 ET time frame. Looking for a low in that window to buy around 1274-75 area. GL

OOPS.... prev post was attached to wrong post....
nice post so far, 74 also 50% retrace when it printed...

Sell side imbalance on the close, I thought it would be buy today. Dumped my last long at 7550. GL

I noticed looking over everyones posts on todays price action (very informative) there was not one mention in regards to the 5min gap left from 11:30 to 11:35.
Question...being in a possible short term downtrend, would you look to this gap as a target,or would this gap have little or no influence in your planing.
Thanks

Good eyes and sorry for not seeing this post earlier. Gaps in the data are my least favorite target as I have seen them fail the most. Although I do like to keep track of them . I still have one at 1219 I think and down at 1190 so trying hold for those would have been a mistake.

On this day here I would have prefered to see something else to go along with that gap or else I would have waited until we came back out of the 60 minute low. It's a good target as it is on a low so an obvious inflection point. If the weakness in the NQ can carry over into Monday then we should see that run out soon but not because of the gap in data. I guess many don't follow that idea...probably just as well then...thanks for the reply

Originally posted by dutch

I noticed looking over everyones posts on todays price action (very informative) there was not one mention in regards to the 5min gap left from 11:30 to 11:35.
Question...being in a possible short term downtrend, would you look to this gap as a target,or would this gap have little or no influence in your planing.
Thanks