ES Friday 9-16-11

ES finally moved above 1198 and in it's way to 1250.
The numbers posted last night worked well today, with the ES closing in the 1202 objective area.

For tomorrow, Friday, Sep. 16, I have the following:


Buy above 1208.75
with 1212 / 1218 / 1224 / 1229 / 1235
as outside objectives.

Sell below 1203.00
with 1198 / 1191 / 1181
as downside objectives.

Will see how the above numbers works out in the night and day session.
I usually keep my protecting stop between 1 and 3 pts, (Your call)

The above numbers work best from S/Rs and Fibs.

Will see, in due time the market will show us the way.

Good luck and good trading

"sandoxe" ... why the name change from "i1hunter" from earlier this year? Just curious.

MM

I think the 1200 - 1202 is still in play but the first real support is the ledge and low volume area at 96 - 97.50 so that is my first key support zone...that was generated from todays trading ....under there we have the 90.50 - 92 also from today. below there is 84 - 86 as a key area.

Up top I'm looking at 1210 - 1211 which is high volume but I'd prefer to see a push up into 1216 - 1217.50 then the 22 - 24 area is the extreme of this bracket

I think the very best trades will come on any test at or a push slightly below that 97 zone...then trade for the retest back up into it...everything in context but we know how low volume operates

lets see what the overnight gives us and good luck on friday

hey MM I picked up on that too..."the market will show us the way" was the giveaway....

MM & BM I never like that name lol I just got back from South America and decided to change it. Sorry, I forgot to disclose it.
My trade marks are "In due time the market will show us the way" and "I see for you the same I see for my self: Having the best of luck and most profitable trading day"

Hey Bruce you said earlier today -- "15-Sep-2011 at 1:30 PM I can't sell with a potential double top on th e30 minute bars......if it drops from here before that top is run then i will miss the trade...frustrating as we have some good targets below but just can't find a good entry that feels right. "--- I think that, that was the best post of the day! Not only did you call the future double top but had the cojones to wait until unfolded. Jumping the gun is something I have to keep my self on check at all times. Great post bud!

Originally posted by sandoxe

Hey Bruce you said earlier today -- "15-Sep-2011 at 1:30 PM I can't sell with a potential double top on th e30 minute bars......if it drops from here before that top is run then i will miss the trade...frustrating as we have some good targets below but just can't find a good entry that feels right. "--- I think that, that was the best post of the day! Not only did you call the future double top but had the cojones to wait until unfolded. Jumping the gun is something I have to keep my self on check at all times. Great post bud!

The market did moved up to make the double top but extended upwards. Had you taking that short it would had been very difficult to get out with a small gain, maybe a B-E." Nice........

I have

Buy above 1202 with 1208,1220&1227 as targets.. It can go a long way if price holds above 1208..

Sell below 1200 with 1194.50 as the primary target.. if price goes under 1192VAL, 1184 is the minor target with 1173 as a high probability below 1173..

Do you best to hold your positions above 1208 & below 1192 because you'll likely be rewarded.. My stops are usually 2 pts beyond the major levels or entry levels..

TZ

Good morning folks

starting small sells above 05 with 01.50 as the ultimate target ...the 01.50 is a low volume area but below it is a high volume area....so a strong magnet...it is just above the POC from overnight
1200 is a key number too

there is usually a strong bias to the downside on options expiration in early trade...be careful..that is from our dear friend Monkey Meat...

I have revised my key zone to 04.75 - 06.25...based on O/N data and the previous close

Daily descending 50SMA currently at 1218.50
50% retrace at 1215
index marked at open
stocks at close
1206 R level
ON high 1208.75

Market Profile Single Prints summary for today for ES Z1. There was a single print from 9/1 at 1205.75 which would have been a short price if we had opened below it. Because we opened above it was considered filled.

The market created a single print in the F bracket today at 1205.25 which would have triggered a short when the market moved back up to this price which would have been stopped out for a 4 point loss.