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ES Short Term Trading 6-7-10


Here's my charts with Price Action S/R levles ... significant ones in Red and semi-significant in Magenta. The Cyan dashed lines are the Weekly Pivot levels.

First is the Daily ES chart:
Click image for original size
es daily for 6710

And the 30-minute bar chart of 20 days:
Click image for original size
es 30m sr for 6710
rats seem to get blown thru a lot in the last hour.
some will look at double TPO's printing below 56 as a further sign of decline.......so us shorts will be watching the 3:30 close and next bar open..
out on 3 at 51.75.....no place for stop on last two...above single prints?? good volume and close below key 56 number...we'll see...they should still test a previous 30 minute high is concern for this short
agree feng...and air pockets fail ( don't fill) so that tells us about the ability for the market to trend late in the day...
Originally posted by feng456

rats seem to get blown thru a lot in the last hour.
55.25 will take out these two...so hard to catch a trend....so much back and fill
anyone have a good target besides the 50 RAT..?
done at 49.75...no clue now..just thought that woukld have moved faster...50 is major RAT...so not sure...done for today
a bad close below that spike bars low leads me to believe that the 38 - 37.50 will be tested soon...
Originally posted by BruceM

a bad close below that spike bars low leads me to believe that the 38 - 37.50 will be tested soon...


probably overnight eh?