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ES short term trading 5-14-10


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I read the last sentence of my previous post and I should have said that the current AH has printed at the 200% extensions down.

If prior occurrances have any predictive value, price should see some wild swings RTH, just look at the RTH sessions for the listed dates.

To try and apply a psychology to the PA, price has been stretched to the point of uncertainty, and the size of the move has created profits and losses, both of which can inspire opposite moves. Opposite moves = volatility.
took the loser at 47.25 and trying again from 44.75..above 49 is first target
took two of at 47.50 and trying to hold last...that 44 was that Mon - Thursday low of RTH..
look at all those stops waiting above 50...go get them please
As I mentioned before, 3 push pattern very common in AH. That last drop to 44 handle can be viewed as the 3rd push.

One problem I have with the outside bar, Brooks calls an outside bar a "one bar trading range,"

print outside the range of the outside bar represents an attempted breakout of the range, most breakouts fail on first try. (but just a move to attempt breakout of H of outside bar (5m) represents a good profit.

I am very interested to see what kind of volatility unfolds RTH.
Just a word of caution. I have never seen Terry so negative.
http://www.ttheoryfoundation.org/t-theory-calculations.html
I had something bouncing around in my brain last night Paul and that was adding 1/2 the range of the RTH session and use that as an inflection point for the Overnight...

so today that would be 9 points below the 54 lows to get down to 45...

These theories are fun for me but I'm not sure how practical...so many different ideas...

and so on the same note we could take 1/2 the O/N range and then add/ subtract that from the O/N high or low to get an inflection point in the day session


I'm flat at 49.50...waiting for RTH... 48.75 is top Volume dog in O/N..so far ..if I had one more contract I would have tried to hold that LV at 54.....
Well Paul as shown on my calendar, today is a H w Steele turn day and a Gann day to boot, so im in full agreement that the rth is likely to have some good action. And as shown on my 6:36 post this morning the 'temination' ratio (4.236)was aty 1144.75, so i believe Bruce may become a happy camper soon as i think at some point we will see that 1153-54 projection. The sell of the day comes at the real resistance point around 61-62 (that fills the air) if we are lucky enough to get it, imho
The "b" pattern of the O/N suggests that buyers are patient....great once again in theroy and I have found that when we have a "P" or "b" patterns in the O/N and we open near those highs or low we tend to keep running a bit before the buying or selling takes over..

In better words...If we open near the very lows of the 'b' pattern in RTH then be careful about buying right away..it is better to wait for them to run outthe lows and wash out before trying a fade LONG..

Revrese the logic for the "p" pattern...

and watch those O/N lows and highs when those pattrens form ..like the 56 - 58 area the other day....it kept going higher with a "P" pattern in the ON
Kool, I don't know all the abbreviations you use. I tried to research topics you have done, but when I tried to enter was informed I was unauthorized, whatever that means.


Just a standard interpretation of prices: yesterday's RTH L was 1153.75, Day before that, RTH L was 1156.00

50% of the week's RTH range is 1158

1153-1156 seems like important resistance,
if that acts like resistance, not bullish, and sub 1130 possible by Monday.

I can absolutely assure you with an iron clad, 100% guarantee that I don't "know" how PA will unfold.
Originally posted by redsixspeed

Originally posted by BruceM

so it seems my histogram on IB may be wrong...anyone else have a High Volume Histogram price up at 37 that is higher than the volume node at 30 or 31?

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Bruce,

Seems your right @ 37.00...I don't use vwap...I know kool says
load it just before open...I forget to load it...LOL

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I loaded vwap just before market close = 1136.00