ES short term trading 1-21-11

Coming into the end of a down week , as expected. We are in the midst of a rally off of yesterdays low (as expected), but my bias is still negative for today....

I took all but three off at 84 even as that was initial overnigt entry.....that entry sucked as usual for my O/N trades..

trying for 81.50 and gap fill eventually..

I will be bothered by a 30 minute close above the open print especially if they can push it up above O/N high again....otherewise we should be in a good spot....I hope..LOL

Looks like that 30-min close did want you wanted.

Originally posted by BruceM

I took all but three off at 84 even as that was initial overnigt entry.....that entry sucked as usual for my O/N trades..

trying for 81.50 and gap fill eventually..

I will be bothered by a 30 minute close above the open print especially if they can push it up above O/N high again....otherewise we should be in a good spot....I hope..LOL

Very dangerous trade today after coming back through the acceleration zone on Wed from 1285-86 and back through OR. I wouldn't expect OPEX to get too nasty on the downside, but Monday certainly has the potential to. Offering 1284.50 with a stop behind the high today. GL

Back... Figures.. my sell was at 1289.25 and clearly ,the last chart i posted(one min) showed the near term objective to be 1287.50 (hit 1288). Oh well, watching....

The ES is testing the P.D. high at 1281.25. Finding support in this area will target 1284.75 and above 1284.75 then 1291.00. resistance at 1288.00 (morning's high.)
If the ES was to move below the P.D. high then it's possible that it will move to close the gap and possibly to the PvP. There's also support in the 1276.00 area.

I'm flat now because I think there's some zig-zags of 2/3 points in the next two hours, and will look for the best move in the afternoon if the set-up is there.

ES trading 1282.25 @ 11:09

Originally posted by WS

ES is retracing a bit from 1287.00. supports at 1285/1284 areas. If the ES finds support above 1284.00 I will be targeting 1291/1293.

Below 1284.00 will void the objectives and it is most likely will move down to test yesterday's high at 1281.25.

ES trading 1286.50 @ 10:10

i liked the nq and how it did the fake breakout from yd highs....one close outside and then back inside......the es did the same thing with the O/N high...at the same time!

for key highs and lows I'm watching the O/N and the rth session but give more power to the RTH session......just more volume to overcome in the RTH session so closes mean more there


One more off at 80.75....holding two.....yesterdays RTH high is here and we traded through that 81.50 and NQ just filled it's gap!

the tough part of holding anything is that we traded on both sides of open print.....trend days usually don't form like that and no reports to really motivate this market in any particular direction so what is to stop them from bringing it up again?

84 will take out these last two...otherwise one more will come off at 77.75...that is slightly above the 4 pm close and right at that other swing high.

This ,of course is the bounce off of the 1.618 shown above ,but i dont expect it to amount to much...hoping for 1278.50-75

one min mini cycle low (10:02 to 10:46 or 10:47 ) is coming up a few min after 11:30 (i hope!..lol)

Originally posted by BruceM

and while I'm thinking here...what happened to Paul and Phileo...? Just two of the many posters who have past through and moved on from the Mypivots day trading threads...


Last I remember Phileo was taking a JPJ trading room trial and then POOF.....he's gone !!

I see Phileo posting on Twitter now and then:
http://twitter.com/Phileo99