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ES short term trading 5-19-10


Here we are! The 19th, which my work shows could be a pivotal day! It should come as no surprise that we went all the way down to the number shown on the weekend preview, the 0.786 retracement at 1110.25. It is also the 2.618 projection from the 1147.50 high on the one hourly chart.Also it is the 3 std deviation line on the 13 min vwap. Cycles had us down into today ,then up and down again into the 24th. So its all coming together... or is it? Extreme caution is advised , as today either marks an important low.. or the breakdown of the indexes for a true test of 1090 or even 1056!
gap at 1114 in the O/N...trade for it..
gap filled in..awaiting day session now..
It seems like interest in these threads has tappered off.....perhaps the volatility has some rattled.....

I'm adding that overnight high to my numbers as we also had two 60 minute closes there from RTH yesterday...


gotta watch the first pop up if it happens first....that might be our best sell after a trend down day.....the 1112.50 has more meaning as we have traded through it multiple times in the ON


Good luck today
Bruce when you say "gap" were you referring to a small vol histo, an area of non overlapping bars? I saw no gap in the traditional sense.


here's something more from my study of AH PA

Remember, I am comparing today's AH PA to the previous day's AH range.

Today's AH managed to undercut a 100% decline of the range of the previous day's AH but

did not make it to a 200% downside extension, an AH close above the 100% ext down would increase the chance for the following to happen (I am saying if RTH Open is greater than 1115.25 (1115.25 is 100% extension down of Mon -into- Tues AH))

This runs along the Brooks premise that most breakouts fail.(which I do tend to embrace after having spent so much time in my trading career actually buying High ticks of breakouts and selling low ticks of breakdowns)

Here's what has the possibility of happening:
Price has undercut the L of the previous week; today, it should be rejected (the breakdown) and move back above (or at least test) that breakdown point.

Last week's Low was 1123.75.

we'll see what happens

this is a work in progress
I followed my plan.

Thanks for the thumbs up, whoever is/are doing it.
on the 21.25 short but already feeling like it's gonna go higher
flat 21.25..waiting
Originally posted by PAUL9

Bruce when you say "gap" were you referring to a small vol histo, an area of non overlapping bars? I saw no gap in the traditional sense.


here's something more from my study of AH PA

Remember, I am comparing today's AH PA to the previous day's AH range.

Today's AH managed to undercut a 100% decline of the range of the previous day's AH but

did not make it to a 200% downside extension, an AH close above the 100% ext down would increase the chance for the following to happen (I am saying if RTH Open is greater than 1115.25 (1115.25 is 100% extension down of Mon -into- Tues AH))

This runs along the Brooks premise that most breakouts fail.(which I do tend to embrace after having spent so much time in my trading career actually buying High ticks of breakouts and selling low ticks of breakdowns)

Here's what has the possibility of happening:
Price has undercut the L of the previous week; today, it should be rejected (the breakdown) and move back above (or at least test) that breakdown point.

Last week's Low was 1123.75.

we'll see what happens

this is a work in progress
... INTERESTING number!....
Click image for original size
772
on 22.50 short....I'm off this a.m...
up 10 points in 20 minutes...suspicious..air is below...will they let the ORB folks win with the high $ticks?
Thanks for the feedback johnpr2010. Judging by the number of people that visit the site versus the number that post on the forum (1 to 5%) I'm guessing (and hoping) that there are a lot of other traders out there who are a little bit more profitable today because of the generosity of one of the other traders on this forum.