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ES short term trading 6-3-10


Good morning crew,

O/N Market had slightly upward bias O/N range is 1096 - 1104

1105 is resistance from last week
1097-1098 is yesterday's gap fill and daily hi
1084-1086 is friday's low, Tues. VPOC, POC and reaction area from last week.
1081 was the start of Mon. breakdown, and start of yesterday's breakout.

1069-1070 is an unfilled gap and double bottom (more obvious on a volume chart)

Today's stretch (from opening price) is 7pts.
Price is currently above the value areas of all sessions since May21.
Euro was slightly weak in the European session, and this morning's 830 am economic releases were slightly below expectations, but mkt response has been non-chalant.


Today is MATD, so my guess for the initial MATD oscillation points are:
1105-1106
1090-1094

Today's daily Range estimate is 1087 - 1112
Based on current mkt strength, I think mkt will probe the 1105-1106 area first before attempting to fill gap (1097).

Click image for original size
jun3plan
Originally posted by BruceM

that was the freakin coolest thing I've done in a while.....

Feng look closely atthe chart I posted and notice the 5 minute close at the high...then look how that bar after that didn't trade back to that close....so it was a gap....

Oh , how they make us suffer sometimes....



Ahhhh i got it now. So prices like to fill these gaps yes? kind of like air?
that was a price bar overlap trade...the markets going down down down and then that huge bar that closes below any other low of the day...it leaves the air behind.....I guess I'm just not a good teacher Piker as I know you are not the only one who is confused with that.....just look at that bar...if you go to the left there is no other bar that traded in that air pocket....so we look for the market to get efficient and expect bars after that to overlap and fill in the space...


I'll tell ya man...between that and that gap at the highs I'm feeling like one of those " I see dead people" types of traders.... I must be a real whack job !!!

Let me know if yiu don't see it and don't take my comments the wrong way as I think it is sometimes tricky to explain my stuff but once you see it you start to see things differently....Like that dead people movie with that kid...just kidding!

Keep me posted or ask in the price overlap thread or in private email...I'm here...I have kids so don't get to party like I used to....but today I feel like it!!
Originally posted by Piker

Originally posted by BruceM

so nobody really goes back and reads these...that's too bad..go to the bottom of page one red...your answer is there...Gap in data at the highs for the short answer


I saw the gap at the high and confirmed it with you to make sure I was seeing it correctly. But I am missing the 5-minute gap at 92 you recently mentioned (the long red downward spike).
there were two 5 minute gaps in the afternoon.

bar that completed at 3:20 had a gap down from previous bar close

same with bar completed at 3:50.
Originally posted by BruceM

so nobody really goes back and reads these...that's too bad..go to the bottom of page one red...your answer is there...Gap in data at the highs for the short answer

=================================================================
I don't agree with this post. I trade a different style
and like most I don't have time to see all that is said.

It won't happen again
Yes Feng,

You will notice a common theme to most of the ideas I use to make money and that is market efficiency....

If we only trend 20% of the time or less then why be a trend trader ? We'd be best off trading for overlap and consolidation and price efficiencies....gaps, triples, air pockets , gaps in the data..previous 30 bar retests etc...ON retests, Previous day retest....then we let our runners sit there and suffer and hopefully get the bigger moves or the key targets ...ratchets or some function of the 3 day average range....

We'll let the trend traders have a small chunk of our cash when we are wrong but overtime we will rock the house!!!
Originally posted by feng456

Originally posted by BruceM

that was the freakin coolest thing I've done in a while.....

Feng look closely atthe chart I posted and notice the 5 minute close at the high...then look how that bar after that didn't trade back to that close....so it was a gap....

Oh , how they make us suffer sometimes....



Ahhhh i got it now. So prices like to fill these gaps yes? kind of like air?
correct Paul......so obviously the key is trading for them...
Look at those Feng....Paul is giving away all the secrets....efficiency....well done Paul
Originally posted by PAUL9

there were two 5 minute gaps in the afternoon.

bar that completed at 3:20 had a gap down from previous bar close

same with bar completed at 3:50.
Just busting on ya Red.....I agree with you...trading is hard enough...the real value with any of our postings is fiquring out if the concepts can work for us and our style

Some become a compliment to our trading and others need to be discarded or looked at when we have more time...

I always look for repeatable ideas that happen almost everyday and try to adapt them like most do!!
Originally posted by redsixspeed

Originally posted by BruceM

so nobody really goes back and reads these...that's too bad..go to the bottom of page one red...your answer is there...Gap in data at the highs for the short answer

=================================================================
I don't agree with this post. I trade a different style
and like most I don't have time to see all that is said.

It won't happen again
Originally posted by BruceM

that was a price bar overlap trade...the markets going down down down and then that huge bar that closes below any other low of the day...it leaves the air behind.....I guess I'm just not a good teacher Piker as I know you are not the only one who is confused with that.....just look at that bar...if you go to the left there is no other bar that traded in that air pocket....so we look for the market to get efficient and expect bars after that to overlap and fill in the space...


I'll tell ya man...between that and that gap at the highs I'm feeling like one of those " I see dead people" types of traders.... I must be a real whack job !!!

Let me know if yiu don't see it and don't take my comments the wrong way as I think it is sometimes tricky to explain my stuff but once you see it you start to see things differently....Like that dead people movie with that kid...just kidding!

Keep me posted or ask in the price overlap thread or in private email...I'm here...I have kids so don't get to party like I used to....but today I feel like it!![quote][i]Originally posted by


Ok. My problem was that I was mixing air with gaps. I always thought you were using those terms interchangeably.
anyone getting long in O/N..? My world seems to think that tomorrow whould make a HH and HL then today...so why notget in early ? Like at 1100 area....and 1105 still needs work I think...Anybody ? Anybody "
Originally posted by BruceM

anyone getting long in O/N..? My world seems to think that tomorrow whould make a HH and HL then today...so why notget in early ? Like at 1100 area....and 1105 still needs work I think...Anybody ? Anybody "


I am long at 1100.75 shooting for the triple at 1104.25, at least initially.
there was someone here who was looking at triples in the O/N session and then POOF !! They disappeared.....maybe they just made so much money trading for them.....Ha! I hope it keeps running up..triples are all over the place in this O/N but I still want 1105.25 cleaned up...
Originally posted by Piker

Originally posted by BruceM

anyone getting long in O/N..? My world seems to think that tomorrow whould make a HH and HL then today...so why notget in early ? Like at 1100 area....and 1105 still needs work I think...Anybody ? Anybody "


I am long at 1100.75 shooting for the triple at 1104.25, at least initially.