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ES short term trading 6-22-10


Looking for sells on any moves up with high $ticks this am...key resistence zone is 17- 20......not sure if it will get up there so look for a plus 2.5 - 4 off open print up to fade
and I guess I should also point out that

5 day average of Low versus the Open comes in today at 1100.70

5 day average of H versus the open is 1116.20

these are just averages...
I'm expecting them to jerk it back to 1109 soon as that is peak volume one minute thrust so far today and now single prints off 30 minute...they will test that volume I think.... hopefully AFTER they take out YD lows
Great read Bruce. I'm a simply player when the move went through my pivot at 1113.75 and came back I shorted, feeling good about it after reading your posts.
Thanks
I really dislike when an hour breakdown happens so close to key numbers like the O/N low or YD low....lots of fake outs there...just too obvious some days
Excellent trade...simple is always best....well done and thanks for pointing out the pivot....I missed that number today....so lots of folks were interested up there....Cool!!
Originally posted by reactor

Great read Bruce. I'm a simply player when the move went through my pivot at 1113.75 and came back I shorted, feeling good about it after reading your posts.
Thanks
testing the single prints now....I'm trying not to get blindsided by the OVB and thinking more in terms of the chop day...also thinking about O/N high and low and high probability of taking one side out...


many will try to sell that hour low IF it comes back through it...on the oppossite side is taking out the hour high...that will clean up the entire selling tail...and should in theory go for the O/N highs up near 17.


Working a small short at 08.75 now....small because we are stuck in hour range and really need some more infor for a better entry..we just had the lowerst 5 minute bar of the day at that 09 number....decision time now!!
I know folks who will agressively trade breaks on those low range bars and they get it right a lot in time...that's what I will be thinking about if they run out it;s high soon
Originally posted by BruceM

I know folks who will agressively trade breaks on those low range bars and they get it right a lot in time...that's what I will be thinking about if they run out it;s high soon


long from 1107, above 1108.75 will increase odds of at least re-tag of open 1110.
Bruce,
I thought you were a little early with your MATD fade at 1111, but didn't want to say anything at the time, since it sounded like you knew what you were doing. plus i think your style is more to scale into your trades....
i was waiting for 1115 to short (i saw more confluence there) the matd oscillation but it never made it to that level.
maybe this time around?
Originally posted by phileo

Originally posted by BruceM

I know folks who will agressively trade breaks on those low range bars and they get it right a lot in time...that's what I will be thinking about if they run out it;s high soon


long from 1107, above 1108.75 will increase odds of at least re-tag of open 1110.


3 attempts to break below 1106 was met with buying that took it back above 1106 relatively quickly. I see buyers below 1106, hence my reason to go long.

need to see 1109 soon to give me more confidence on this long.
stop to 1106 now...
Originally posted by BruceM

Piker...in your Market profile chart go to "preferences" and then "reference lines"...there is a check box for "singles"..let me know if you get it going


Ok, I got it checked. For some reason I found it located in a different spot; i.e., under the "prices levels" tab but I'm sure it is the same setting as yours.