ES Short Term Trading 5/5/10
Have adjusted PASR lines that I see for potential support and/or resistance in Red with Magenta as "semi-significant" ... the Cyan dashed lines are the Weekly Pivot levels on the 30m chart that shows 24 hour trading with the gray background areas being overnight trading. Hope they're helpful as a map for Wednesday's trading.
added at 60.25...no more adds .....we need to getto 9:15 a.m to get a midpoint from O/N range.....if this is the low then 66- 67 is target and also breakdown LTP
i'm actually looking for the flipside of that. i'm on the sidelines hoping for a rally to the 66-68 to short.
low volume from O/N is 66 ..HV is 69.....gaps in the data have me thinking thAT THis will not be like yesterday...so we can fade agressive on longs ...66 is midpoint
I'd be happy to sell mine to u up there TrdaerF...lol
Im staying away today
Originally posted by PAUL9
Today is a Don Miller MATD (morning after trend day), I know there is a definition of this in the dictionary, but does anyone have any other insights for trading day after trend day?
The one thing I do remember is that after a trend day down (with monster loss),
my note, Don's favorite set-up is described in 03/09/09 TD blog:
1) monster decline previous day
2) next day, gap down to prior day support, BUY tick under -720
One question that must be answered: What is "prior day" support? ...area of yesterday's Low: Low yesterday was 1164.25.
Nothing is ever exact, but here's what i see:
1157.5: S1 pivotpoint
1156: 123.6% extension of yesterday's range
1158: current o/n low
Sarting RTH longs at S1 58.50
Miller stuff I described earlier is de-funct, extinct, non-applicable due to open, open was well below previous day's support.
fear ...it can be a councelor or a jailer....adding at 55...overlap close..
huge dow / es divergence if my data is correct
you got a bad attitude man ! Call it what you like!!
Originally posted by ak1
Originally posted by BruceM
can you get us a visual on your air concept..I don't see it....perhaps we need to call it AK1 air so we don't confuse folks...Originally posted by ak1
Air at 1163
I like the name. Thanks. I can't give the visual as you need to watch a 30 min chart to catch it. It occures at the high and low of a recent 30 min candle. When we hit these levels we must go back 2 ticks. If we do not then we have air. I usually let this run for 4 points and then enter hoping to fill the air.