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ES 10-03-08


Nice short coming up, 1141 or so.
We didn't reach singles between 43.5-55.75.
Bruce,

This last low we hit at 1134.25, is the session open but its also minus 8 from the open of the 2nd 30min bar today. Todays first high at 43 was plus 8 from the open, its very interesting how on a half hour basis the markets stop and reverse or stop and bounce at these 8, and 12 levels on the 30min. In the past 3days we have had 13 reversals at the neg 7.5-8.5points from the open at the 30min level.....Thats 1 out of every 4 bars.
quote:
Originally posted by CharterJoe

Bruce,

This last low we hit at 1134.25, is the session open but its also minus 8 from the open of the 2nd 30min bar today. Todays first high at 43 was plus 8 from the open, its very interesting how on a half hour basis the markets stop and reverse or stop and bounce at these 8, and 12 levels on the 30min. In the past 3days we have had 13 reversals at the neg 7.5-8.5points from the open at the 30min level.....Thats 1 out of every 4 bars.



Hi Joe,

Would you please explain the rules to how construct that chart you posted yesterday the "flat chart" w/ the 30 min bars.

Thanks.
This last high we hit was on a declining $TICK we need high $TICK's on this next run. I have a +1 limit sitting on those calls form yesterday. another 30cent to go, it should go if we get an IB to the upside.
Sure popstocks, take a 30min and do away with price but you still have a scale. Take a flat line and place the open of every bar on that flat line. ex. if the high is 8points above the open and the low is the open then you draw a line 8boxes above the flat line and nothing below. If you have any questions just ask, I'll post another chart later...Theres the IB break out into monthly value.
Thanks Joe, that's useful way to get a perspective on price action, going to have to check it out.
Somethings odd, thats a +20point move in the ES from were I entered but It hasn't hit my limit yet. Should hit it this time got higher $TICKs on this last high almost overbought....
Pop, during the up or down moves that I trade last about 16/30min bars on avg and In this chart you can see the strength or weakness in the trend and then it reaches a climax and declines, it does this in a consistent up or down channel and you can tell very early on when it breaks these channels. And you go in the direction of the break if 1) the low/high was a major S/R, and 2) the 30min RSI is ripe for a reversal.
the 20 & 50 EMA when bound together act as strong support / check out the 9am est 15min. candle
I'll be buying some puts around 1157-1161 area I do believe.
Toes are fine Joe; glad everything is good with your new girl