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ES short term trading 6-10-10


Nobody trading today or what?
Originally posted by ak1

We should see 1076 again


which contract?
Everyone should be trading the U0 contract now if you're opening a new position. The only reason (in my opinion) to still be trading the M0 contract is if you're closing out an M0 contract that's already open.
Sept 10 contract. This is getting confusing with two contracts going on
Originally posted by PAUL9

I hate the roll forward day and often do not trade until the following Monday when I know the forward contract is recognized as "the" contract.

The analysis that I did shows that the contract volume switched over at 9:30am today.
Originally posted by phileo

rollover screws up my charts, so I can't post any charts.

runaway gap up day
Bruce are you still expecting a RTH DAR of 20?
if so, then a potential target today is 1089 ....!

Depending on the charting software you're using you can often specify a continuous contract on your chart which will show M0 for yesterday and previous days and show U0 for toward forwards. e.g. on eSignal you'd specify ES #F. On days like today for example I usually switch to ES U0 to make sure that all the multi-day figures are consistent. However, as other traders have alluded, the volume in previous days on the U (Sep) contract was thin until today so not as indicative.
Beautiful short 77.25
Click image for original size
822
Originally posted by day trading

Originally posted by PAUL9

I hate the roll forward day and often do not trade until the following Monday when I know the forward contract is recognized as "the" contract.

The analysis that I did shows that the contract volume switched over at 9:30am today.


I recognize that, but contract volume alone does not generate daily measures of price that I calculate based on previous days' price data...

things like my 5 day average of H versus O, L versus Open, weekly pivots and 5 day average True range calcs do not generate consistent numbers on continuous contract basis. This is one of the main reasons I simply do not like the roll forward.

How do I read swing failures on the left hand side of the chart when the past data for the SEP contract might have just been some sort of hedge for the roll forward?

There is only a limited history of the new contract pricing (just today) as the singular weapon of choice in the futures arena. that's why I don't like the roll forward. Majority of traders are not focused on a singlular contract.

I realize that intraday techniques like Bruce uses seem uneffected (and I do appreciate that aspect of his trading), but I like to incorprate an intraday PA with multi-day perspective of PA.

Maybe I've made a mountain out of mole-hill? but these are the reasons I do not like the roll.
triples above 76.50 ...using caution with this low volume inside 60 minute
Long one at 1073.75 and will add one more at 1071.50 if they take it there....
Originally posted by feng456

Originally posted by day trading

Originally posted by feng456

well i dont have access to this MP stuff anyway.

You do have access. There's a free MP calculator right here.


how do i use it?

There are some instructions here. Reply to that topic if you're still having problems.