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ES short term trading 7-20-10


When i projected much lower prices,last weekend, few believed it. Everyone was looking for another 1100 test and higher. You probably wont believe what i feel comes next either! lol.. But enough macro crap, heres a snapshot of the near term ,going into the morning....
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913
Put "extend nakes POC" as checked and you will see the 66 - 65 from overnight and yesterdays session Lorn....cool stuff....60 and 57 is naked as per 60 minute from TODAYS trade.....
Did I say that out loud. Out of character for me. Sorry!
I'm sure to be punished now.
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es 09 10 7202010 60 min3
Call it what you will ,my friend, but money is money to me ..covering just above the one min proj of 1062.00
Bingo!..out both at 1062.50 4 more handles in the bank.. just hope im not kicking myself later for not keeping a runner... now up 8 on the day...watching
I've been thinking the same thing. Downside dump seems plausible, taking into account seasonality, EW, projections, volume, etc.



Originally posted by koolblue

Bingo!..out both at 1062.50 4 more handles in the bank.. just hope im not kicking myself later for not keeping a runner... now up 8 on the day...watching
Well, it's a zero sum game. Your best day/trade is someone elses worst day/trade. I try to be aware and respectful. Again, my sincerest apology!
I do that and my chart shows 1066.50. Does that sound right?

Originally posted by BruceM

Put "extend nakes POC" as checked and you will see the 66 - 65 from overnight and yesterdays session Lorn....cool stuff....60 and 57 is naked as per 60 minute from TODAYS trade.....
An honorable goal my friend.

Originally posted by DavidS

Well, it's a zero sum game. Your best day/trade is someone elses worst day/trade. I try to be aware and respectful. Again, my sincerest apology!
OK,
Wasn't trying to stop the conversation. realizing I'm jinxed, a precarious situation here(3 1/2 hours left). Got to do something. Break that 1060 level without a new high would be bad. Might get a pause or new low 1057 area.
Runup into close and AAPL's earnings would be bad(maybe close to closing high from Monday?).
Trading inbetween? Good.
1min chart for me here and watching AAPL and my back myself. So far triple descending highs, not trying for converts,just telling those that mind em. Maybe they'll put in a new set before a drop.
1058 50% S/R so far.
I have to admit I have never really taken the time to study volume at price (volume profile) and I have been spending alot of time on it over the past couple of days.

right now, I sm looking at natural hours (60 minute bars ending on the hour, meaning that the first one of the rth is only 30 minutes because it ends on the hour),

What I am looking at is a 'b' formation in the volume profile. The bar right now is also an inside bar. Yesterday, similar 'b' style bar was created in the bar that completed at 2:00pm, subsequently (next bar) when price exceeded the H of the 'b' bar, a leg up unfolded.

I am watching this formation now to see what happens today (provided that the current bar remains an inside bar and maintains its 'b' shaped volume profile).
Thanks for the posts Bruce.

I'll leave you alone to gets some rest up for tomorrow.