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ES short term trading 6-10-10


Nobody trading today or what?
For the record i did try to buy this prc buy, but my order was at 1068.00... sigh... Ill show it later, but the 30 min chart is ugly and still making me ancy on longs
heres the bounce off of the 1067.50 number i posted about, but im still on the sidelines.. anybody trading? anyone makin coin today?
Aparrently, no bodies home! Im outta here! see ya!
i lost my coin kb lol...
Here is the September Merge profile and the current day as it unfolds...The JUne Contract had the 83 - 85 area as it's High Volume Node..September contact has 1079 - 1081...a perfect hit,,,,,They don't usually just bounce away from these,,,,so we need to watch that if we get into it again..
Click image for original size
essept
TPO count is starting to favor buyers...so hopefully they have enough strength to hold it up..
Originally posted by BruceM

Here is the September Merge profile and the current day as it unfolds...The JUne Contract had the 83 - 85 area as it's High Volume Node..September contact has 1079 - 1081...a perfect hit,,,,,They don't usually just bounce away from these,,,,so we need to watch that if we get into it again..
Click image for original size
essept



do these act like magnets bruce? how is this node significant and for how long?
Damn good questions Feng and sure wish I had the answers...My longer term MP work is a work in progress.....In General High volume attracts price because it is considered most fair...This is just like a longer term POC......

In a range market which we are in, prices below the longest line are considered unfair and Low priced so buyers tend to step in...but and this is a huge BUTT, price doesn't stay anywhere for too long before it seeks out a new value area and a new Fair price..

How low is low before they buy ? Lots of unaswered questions that I am in th process of try to fiqure out..

For now the 73 - 74 is most fair for today as the profile is developing....so buyers seem to be stepping in below...but price won't stay fair at that area all day and it is these types of days that we have been seeing the late day buying or selling to move away from the fair prices....On days where nobody is interested then the market closes in the middle and we have a neutral day...
Here is today so far..note the Bell curve with the most active price in the middle that 73 - 74 area...breakouts tend to come from these kind of formations...which way is the hard part
Click image for original size
today
Note in the top part of my chart u will see a TPO count.( 63/112).that tells us in term of time that there was 63 units of selling pressure above the POC and 112 of buying pressure below the POC..so it favors the buyers....

Obviously anything can happen and does!! But we have those triples!!
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.