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ES short term trading 4-29-10


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649
interesting.....1201.50 is todays R2 and the 62% retracement from the ultimate high to yesterdays low. Also, 1202 is the Weekly PP.
might we be filling some "space" before a continuation move down?

Technically i can make more arguments down, but i don't really believe it. Anyways, i'm getting mixed signals if we go higher from here or lower. waiting for some clear signs but cautious.
So now that bigs are off we have the HTP at 97 so this overnight high is critical for early trade...It's also part of our zone .. I have LVP at 95.25 and 93.50 which goes well withthe midpoint and a natural target in the RTH
Originally posted by TraderF

interesting.....1201.50 is todays R2 and the 62% retracement from the ultimate high to yesterdays low. Also, 1202 is the Weekly PP.


I've also got a price action minor resistance level at 1201 fwiw. If looking to short, could be a decent zone for a reasonable risk/reward trade.
I'm trading for th e97 to be filled in with RTH..so I'm adding to shorts....LTP from day session...AIR!!
so far they sure don't seem to be liking that overnight high...I'd like to see 93.50...that would be cool...
short 98.50 and looking for 93-92 hopefully ... to close gap to yday's RTH high
YM bouncing off 11050 and NQ both have a decent overnight uptrend ... ES can't seem to break below the R1 ... was looking for a relatively quick break down below it. Out and on sidelines and looking to potentially short a few points higher although my bias may shift long depending on the price action if/when runs out the overnight highs
starting new shorts at 1200.50 pringt with high $ticks
trading and adding shorts for the 99.50 retest....amazing how the day sometimes changes
Originally posted by redsixspeed

Originally posted by redsixspeed

Maby EOM profit taking tomorrow; then back up next week...
..



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Looks like the first part; profit taking; is right on.

We'll see if we go back up next week, maby start back
up in the globex session Sunday

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Well they took their profit and went right back up..lol.