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ES short term Trading 5-03-10


Lots of numbers in the 88 - 92 zone..Confluence of weekly and daily PV numbers and the HVP is there...The weekly has HVP at 1189...should be a good magnet for those who can find longs. Right above is low volume (94-96)off the weekly so we need to watch that area closely if/when it gets up there. I personally wouldn't favor staying long above 92 as then we start falling into the low volume air pocket of the weekly.

We have previous weekly lows, key round numbers and S1 falling in the 75 - 77 area.

1200 - 1203 is next resistance as we have key numbers, HVP and the R1 level . That will be a challenge I think to get to on MOnday.

Lets see in the morning what has happened overnight...I'd like to see lower prices O/N to set up long trades in the morning.



Good luck tomorrow everyone.
trying to target 87 - 88 ..ON midpoint and HVP..still may do another push up to shake shorts out...need those high ticks
Out took one point loss
ym gonna test 11010 minimum...good for us shorts
that 4.5pt gap up is bringing out a lot of buyers.
I see individual leadership names (AAPL, GS, GOOG) acting strong.
Gap fill attempt may not happen in the morning, maybe in the afternoon?
that was a good high tick push...92 is the price they may still jerk it around...otherwise we are good to go for the 88 area and further
I concur.... I'm seeing the leadership names begin to roll over...
limit short 1192 waiting, let's see if i get filled....
Originally posted by phileo




1191.50=daily pp
1192.25= weekly pp
1192.50= daily POC

1195.25 - 1196.25 = weekly Low vol. node ("unfair price")
1194.25 = Friday breakout failure

1201.75= Thurs post trend consolidation lo, also a reaction point on Friday.
1205 = starting point for GS lawsuit breakdown, P.G.S. debt downgrade breakdown, Friday breakdown.




Short 1191.75. stop 1193.75
Originally posted by phileo

Originally posted by phileo




1191.50=daily pp
1192.25= weekly pp
1192.50= daily POC

1195.25 - 1196.25 = weekly Low vol. node ("unfair price")
1194.25 = Friday breakout failure

1201.75= Thurs post trend consolidation lo, also a reaction point on Friday.
1205 = starting point for GS lawsuit breakdown, P.G.S. debt downgrade breakdown, Friday breakdown.




Short 1191.75. stop 1193.75


out 1189.50, didn't have a runner for this trade, I see BruceM's 1188 as potential extended target.
tried to re-short 1191, no dice.
flat and waiting for next setup....
1187 looking more and more like a reversal. Prices is back above the open now.
What was so special about 1187 ?
Originally posted by BruceM

There is no "air" there as I define it but perhaps you could elaborate...nice opening trade you took today..well done indeed.


Best air that needs to get tested is 94.25 - 95.50 from Mondays trade...the same spot I had my initial short..that's a cool zone
Originally posted by ak1

Can they march on without touching 1192????? We have 1 tick air there.



If we take a 30 min candle chart and apply a buy or sell (given the open of the current 30 min candle) at high, low and close of a previous 30 min. candle with a 1 tick profit. Each level should be profitable. If not we have air. As the market can rally it is not advisable to do it in a live account. Run a demo account side by side to diagnose it.