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ES Short Term Trading 5-4-10


I'm still trying to get used to Thinkorswim, but here's a basic big pic overview of the Daily ES chart. Have the the trend channel and also included Fib Retracement levels though I don't typically use them much ... but nice to know where they are. And Kool and others have referenced the sideways pattern that I've thrown Cyan lines on as a pennant type formation ... even though it's not so much price swings creating it as it is the volatility increase and Wider Range trading sessions of overlapping bars. Hope this is helpful.

Click image for original size
es daily for 5410
correction exited 69.75 the exact low!..coulnt have played that any worse!
but you also had a perfect exit into that 73 area....a real beauty after the triples ran...$ticks hit a 1000....on that run out
Originally posted by koolblue

correction exited 69.75 the exact low!..coulnt have played that any worse!

the last two times we failed to trade back into an overnight midpoint during the day session we either hit that midpoint in the oevrnight of the next day or the RTH of the next day...

Limited data but I'm pointing it out anyway...way up in the 90's


Nq and Ym testing their high volume nodes of the day from below ..if we could get above there we may actually rally.....

I'm like a broken record....to finally get our 75 - 77
interesting reading. His rising line is 1164
http://www.ttheoryfoundation.org/t-theory-calculations.html
thanks..always enjoyed reading his stuff but for some reason I keep forgetting about it..thanks for the reminder...have you followed Terry and his T for long....I'm wondering how accurate he is..
Originally posted by rburns

interesting reading. His rising line is 1164
http://www.ttheoryfoundation.org/t-theory-calculations.html
Bruce I find him to be the most thoughtful, accurate and flexable analyst I have ever seen. His Sat audio updates are complete and concise. He has been calling for March 20 high to be followed by a short correction leading to an Aug 20 high which you better get out of the way. This call is over 6 mos old. New Lows, maybe and lasting for a major cycle.