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ES Short Term Trading 5-11-10


Here's the Price Action Support Resistance levels that I see. With the way the market has acted with all the volatility, they're spaced relatively wide apart ... and should be, as always, taken as "zones" give or take a point or two in this market.

Here's the 30m chart with S/R lines in Red and the Cyan dashed lines are the Wkly pivot prices ... Magenta line is semi-significant. Hope this is a helpful map.

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es 30m sr levels for 51110
69 70 is a key area as per volume and Page 1 here and YD...lets see what they have..
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OUT AT 1165.75.. hope you get 54 Bruce .. you can see from my charts and air and median line we get some support here first tho.. (up 3.5 handles today.. better than before!)
dead nuts strike of 1155.25 ,now if that gives way ..1163
best I could get is the air pocket so far...they always test beyond a previous 30 minute bar low and they haven't done that yet today...I'm hoping this would be th etime for that trade..that previous bars low is 63 so that would be my target on runners unless they go back for 68.5 now....then I'll try again at new highs...
Great trade Bruce! here come 63 and personally 1159.50 is a real possibility.. back in a bit
Thanks Kool....last two trying for LV at 58.50 but don't think I will get it
best is 61.75 with one contract left...c'mon 58.50...youknow you want it...LOL..that was YD highs and a logical point...the 61 's
Here is the chart of just WTF I was talking about...when we trend we will EVENTUALLY test a previous 30 minute bars low as a test....just take my word that it happens a huge percent of the time.....

So here is today and note the Higher Highs and higher lows on the 30 minute bar..we hadn't had that test yet...then we hit that key number of 1169......then look how they went back to test the previous 30 minute bars low...

So now if the buyers can't get new highs it will leave a selling tail...we'll see from here...
Originally posted by BruceM

...they always test beyond a previous 30 minute bar low and they haven't done that yet today...

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30miute
last one off at 58.50...that was a Low Volume spot........COOL stuff...

look at your histogram before it fills in some more
Originally posted by redsixspeed

Originally posted by feng456

followed my plan to the letter

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Hey feng;

Record your trade from time to time. Call the trade as you
see it setting up, record what you say then go back later
listen to what you did right. This may be a good teacher...


You might also want to record what you're up to in the Trading Journals section of the site. Create a new topic for yourself and post what you're up to and when you didn't follow your plan.