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ES short term trading 5-26-10


Magic numbers today......weekly pivot has not traded yet this week and that is in the 94 area....

1106.25

99 -1100

93.75 - 94****

86 - 87.50

81.25 - 83****

75 ****

68.75 - 70

61 - 62.50

56 - 57.50 ****
there is ledge run...look at 15 minute DB at 84.75....c'mon 81.25 !!!back and fuill is making runners work hard today
Originally posted by PAUL9

piker,

I don't know, I have to disagree with Prechter on his interpretation of supply and demand.

There is supply and demand in the marketplace,

supply is created when sellers become more aggressive than buyers and flood the exchange with market sell orders, forcing prices to make discovery of buyers at lower prices.

Demand is created when buyers become more aggressive than sellers and price must move higher in search of sellers.


But what makes them decide to be buyers or sellers? According to Robert, it is their collective social mood, which creates herd mentality. That I have to agree with.
Man i've been hoping for short alllllllll morning too. I hate trend days.

So I have a quick yes or no question. When people talk about price action and how knowing it is the 'only' way to trade, do they mean like 'oh it's likely that the price will bounce off of this last 30 minute high' because they know from previous experiences? or am i completely off...
got 80.75 and trying to hold for 75.50 print......feng I'll respond later....failure at 81.25 will go get 75......simple stuff
not sure if they will jerk us around the 81.25 like they did the 87.50...hope not
lucked out today omg. i suck. two ticked my huge stop

followed my plan
it would be nice for the bulls to hold these highs and blow it outthe upside into 93.75


true consolidation day as we have traded on both sides of the IB......you can get chopped to death inside the 60 minute of a consolidation day...I don't think this will last till the close though......look for trend signs above or below the 60 minute high or low...and a test of the 60 minute closing price
we are consolidating in the upper 1/2 of that range chart I posted....1087.50 - 1070....midpoint is 78.75.....so they are accepting price in upper half......so perhaps they want to bust the highs.....


I need more info to take a trade...60 minute close just tested again
didn't take this and just pointing it out...the failure at the 60 minute close into the 75.50 print.....all key numbers generated without anything else

87.50

81.25

75


I'm not sure we will ever need anything else....most won't use this like the pitbull numbers...anyone besides me sell the hour high into the plus 8 - 10? anyway...it's not fancy so it will be ignored too....I guess it's human nature to complicate things....would 68.75 be another ket alert zone?

What happens if they can't trade the 75 and you get a signal long off your setups...or it hits it but consolidates there .? Is it possible to trade 81.25 again...? ok nuff said as no interest and nobody home today

efficient day as all price bar overlapped filled
Great stuff Bruce. I've not posted much the past few days (due to health thingy), but have been following the thread posting numbers usu. early in the day.

So, I'm here.

ROLL CALL! Sound off and be heard ... even if you haven't posted yet. Bruce and a few others are calling potential trades in advance and following up with how they're managing the trade and describing the rationale why.

So who's here today? Sound off with at least a smiley face post whether your a semi-regular poster or even if you've not had anything you want to post yet.
Originally posted by BruceM

didn't take this and just pointing it out...the failure at the 60 minute close into the 75.50 print.....all key numbers generated without anything else

87.50

81.25

75


I'm not sure we will ever need anything else....most won't use this like the pitbull numbers...anyone besides me sell the hour high into the plus 8 - 10? anyway...it's not fancy so it will be ignored too....I guess it's human nature to complicate things....would 68.75 be another ket alert zone?

What happens if they can't trade the 75 and you get a signal long off your setups...or it hits it but consolidates there .? Is it possible to trade 81.25 again...? ok nuff said as no interest and nobody home today

efficient day as all price bar overlapped filled
I think most are refering to the fact that the market has a short term memory and so they watch the swing highs and lows to see if price gets accepted ( spends time) above or below these key areas...

when I think of price action I think of higher highs and higher lows for an uptrend and LL and LH for a downtrend....

there are so many ways to trade so it may not be the best way for everyone...I fade moves so some may be buying a new swing high, where I'd be looking to fade it...usually....

I wish more would chime in with a reply
Originally posted by feng456

Man i've been hoping for short alllllllll morning too. I hate trend days.

So I have a quick yes or no question. When people talk about price action and how knowing it is the 'only' way to trade, do they mean like 'oh it's likely that the price will bounce off of this last 30 minute high' because they know from previous experiences? or am i completely off...