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ES short term trading 7-1-10


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877
Originally posted by phileo

Originally posted by phileo

Originally posted by sjzeno

23-23.50 looks like it might be resistance as its where we have the volume spike from the morning.


Yes, this rally has stalled around the 1023-1024 area. Lots of confluence of resistance here:
YDay's lo 1023
Gap fill 1024.5
7am(PST) selloff started at around 1024 area.


wow, TICK spiked up to +1500 !! That was how much supply was in the 1024 area. That should be support now, looking for longs at 1023


out +1 tick on that long. That TICK= +1500 could be a sign of exhaustion, not taking any chances.... waiting for the next setup
Originally posted by phileo

Originally posted by phileo

Originally posted by sjzeno

23-23.50 looks like it might be resistance as its where we have the volume spike from the morning.


Yes, this rally has stalled around the 1023-1024 area. Lots of confluence of resistance here:
YDay's lo 1023
Gap fill 1024.5
7am(PST) selloff started at around 1024 area.


wow, TICK spiked up to +1500 !! That was how much supply was in the 1024 area. That should be support now, looking for longs at 1023


out +1 tick on that long. That TICK= +1500 could be a sign of exhaustion, not taking any chances.... waiting for the next setup
Originally posted by phileo

Originally posted by phileo

some serious buying, TICK hit +1300 on that latest impulse move
Bonds have broken below support level 128.01. Things are looking good for a 1022.5 target



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update of jul1 bottom


Ok, here's the ABCD projection: AB=1007-1017, CD = 1012 - 1022

That big red line in the chart is a downtrend line starting from YDay's hi 1044. We've broken that. I think the bottom is in.

I plan to buy any pullback that approaches 1017-1018 for another 10pt measured move to 1027.
I think 1017 should act as support now (O/N low, and swing low from this morning)


Long 1017, out 1018.25
nice scalp. I was short 24 covered at 18.5. You scared me with your supply and Tick but i thought to much resistance up there.

I actually went short at 23.5 and covered at 26.25 but re shorted at 24 because i felt i got juked on that false breakout. Lately there has been a lot of false breakouts in the afternoon.

I wanted to hold this longer and possible catch a huge afternoon selloff as we been having huge trends late in the day. But the 18 area looks like a level where price will fluctuate around.
Originally posted by sjzeno

nice scalp. I was short 24 covered at 18.5. You scared me with your supply and Tick but i thought to much resistance up there.

I actually went short at 23.5 and covered at 26.25 but re shorted at 24 because i felt i got juked on that false breakout. Lately there has been a lot of false breakouts in the afternoon.

I wanted to hold this longer and possible catch a huge afternoon selloff as we been having huge trends late in the day. But the 18 area looks like a level where price will fluctuate around.


1017 is a big line in the sand for me, good luck w/ your short
o i covered that at 18. no runners. but thanks!

i reshorted just now at 1022
covered at 18.50. 18 seems like a magnet.
Look how price cant close above 23.5 the high volume bar from the morning session.
Here is the chart I was looking at for the afternoon.


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2010 07 01 toscharts
What happened ? I must have missed something.....what strange things happened..? And just when we were starting to get more participation too....
Originally posted by koolblue

Originally posted by wvalen28

koolblue,

What a great disappointment if you stop sharing your posts. I just found this website and have finally started making money following your entries and exits. Please continue sharing with all of us.
...too many strange goings ons on this thread.. im off to trade the'mud' with my buddy Vo! he set up a room on skype. see ya!!!

Thanks Nigel, I missed that from the chart:

last post, going to keep trading not posting... no one pays it much mind anyway! good luck gang!


@koolblue - you have plenty of silent followers. Keep posting!

Also, look at your reputation on the Members List - as I type this you are the second most voted for trader on this site which means that other traders here think that what you are posting is high quality.