ES Thursday 9-6-12

lots of quick babble but my basic plan is to be short if we open above the 1409 high first using the 1411.50 - 1412.50 to initiate from...watching last weeks highs and 1416.50 carefully if they push out the O/N high


starting small shorts at 1412.50 in O/N session....high risk and safer to wait for day session

Bruce, don't beat yourself too hard....u r a fantastic trader, one of the best i have seen in years (i would definetely give u my money for u to trade) but these trend days are killers to those of us who make their money fading...

i did not lose money today, but i was lucky in some entries and exits today and have lost money almost every time we trend...and i know that will continue to be the case, but the rest of the days more than make up for the losers so i can live with that

i wish i had lost money today but had your knwoledge and vision of the markets

u have added a lot of value to a lot of people over the years and that is invaluable


hope this last trade works for u and if it does not, then enjoy your days off anyway and let's get them on monday, or whenever u r back

nick

Thanks nick...lets hope the 1.5 times the ib faders are with us now

I have 24.75 and 21 as the key developing low volume nodes now...this is where buyers demolished us sellers and key places to watch

took stuff off at 26.5, 1 tick above that peak volume on the upper distribution, 24.75 air fill level is target for runners, 22.5 is next...stop to 1 tick above the highs on those runners

Originally posted by NickP

all right, trying again from 28.75, 26.25 first target...i know 30.5 is realistic so ready to add there but no more adds after that (and tight stop above it)...

so far 2 winners 1 small loser...if the current one turns into a loss it will flatten me out for the day, but worth the risk given how overextended we are

no test of a previous low in the 15m chart since the open...needless to say we have multiple single prints in the 30m chart as well

yep, i have the same spots for low volume...using the first one as a target for runners but will use the peak volume of the middle distribution as second target...all this may be too ambitious given the double tap of the highs on the 30m chart

Originally posted by BruceM

Thanks nick...lets hope the 1.5 times the ib faders are with us now

I have 24.75 and 21 as the key developing low volume nodes now...this is where buyers demolished us sellers and key places to watch

stopped on the runners...done for the day i believe

good luck

I'm trying one last time at 29 only because I covered last trade at a smaller loss than planned once we hit that 26.25 area....so I will go once more for the 26 - 25 area wit a stop at 31.75


nice trad Nick.

there is the 30.5 i thought they might want to tag...not trading any more

Originally posted by NickP

all right, trying again from 28.75, 26.25 first target...i know 30.5 is realistic so ready to add there but no more adds after that (and tight stop above it)...

so far 2 winners 1 small loser...if the current one turns into a loss it will flatten me out for the day, but worth the risk given how overextended we are

no test of a previous low in the 15m chart since the open...needless to say we have multiple single prints in the 30m chart as well

still no test of a previous 30m bar low...bulls are going for the unbeaten record...personally i think it will not happen, 28.5 is the closest 30m low

sure wish they would at least get a bracket test...what kind of range is this now ?? garbage..!!

stopped out at 29.75...that was a long time to hold for nothing !!!