ES Short Term Trading for 4-20-2011


  • 3
  • optimusprime
  • 20-Apr-2011 at 9:20 AM
  • Rep: 1,350
  • Posts: 147
here's a look at a profile chart this morning. We have a huge opening gap up this morning and it has left some single prints down at the 22.50 to 21.25 range. I am thinking to go short just after the open around the O/N highs of 28.50 to 1320.75 which is the bottom of the value range today.
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es 06 11 5 min 4202011
  • 1
  • Lorn
  • 20-Apr-2011 at 9:37 AM
  • Rep: 16k
  • Posts: 1,406
Here is the O/N profile.


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onprofile04202011
  • 1
  • BruceM
  • 20-Apr-2011 at 9:39 AM
  • Rep: 216k
  • Posts: 19.9k
all volume still at the OR range so selling into 26 for retest back down......
  • 1
  • optimusprime
  • 20-Apr-2011 at 9:44 AM
  • Rep: 1,350
  • Posts: 147
i'm with ya Bruce.. i'm short at 25.75 looking for 1323.75 then 1322.
  • 0
  • optimusprime
  • 20-Apr-2011 at 9:46 AM
  • Rep: 1,350
  • Posts: 147
WOW thre is a real fight on here at 1325
  • 2
  • apk781
  • 20-Apr-2011 at 9:50 AM
  • Rep: 4,392
  • Posts: 410
that is where o/n's highest volume is fwiw
  • 1
  • BruceM
  • 20-Apr-2011 at 9:51 AM
  • Rep: 216k
  • Posts: 19.9k
I like the 20 area too OP as a target ultimately as gaps and key numbers for 4- 11 there.......but key numbers from that day are 26.75 , 23.50 and 19.75 as per the 4 -12 numbers posted...so the 23.50 needs to break down and NOT be support ....
  • 0
  • optimusprime
  • 20-Apr-2011 at 9:52 AM
  • Rep: 1,350
  • Posts: 147
just filled at 23.75 will let the rest go. moved stop to B/E
  • 1
  • BruceM
  • 20-Apr-2011 at 9:54 AM
  • Rep: 216k
  • Posts: 19.9k
knowing the key numbers from prior RTH trading days is critical for RTH trading......seems like this market can be pushed around easy in O/N tradings so the numbers don't work as well there
  • 1
  • optimusprime
  • 20-Apr-2011 at 10:01 AM
  • Rep: 1,350
  • Posts: 147
i agree, i think we will have a hard time with getting downto the 20 area although, i have a chart with prc bands and a fib showing we should hit there. just stopped out. wouldn't ya know it?
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es 06 11 5 min 4202011
  • 1
  • BruceM
  • 20-Apr-2011 at 10:06 AM
  • Rep: 216k
  • Posts: 19.9k
new shorts again at 26.75....we'll add if Or high runs...once again target will be OR range... unless Volumne comes in strong they will drive it back down again
  • 2
  • Lorn
  • 20-Apr-2011 at 4:21 PM
  • Rep: 16k
  • Posts: 1,406
Here is the end of day chart to study. I've added a new pane at the bottom of relative volume. The bars compare volume to that specific time frame over 200 days of trading to give a relative percent reading compared to the normal (average) volume of that period. So for instance, the two big red bars at 12:25 and 12:30 were saying the volume at those time stamps was 250% greater in relative strength then the average over the last 200 days.

Not sure if it helps any. I'm just experimenting with it.


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esvwap04202011
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