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ES short term trading 7-21-10


Here are the zones I'm watching

1101 is low volume based on composite work


90.50 - 93 ***** HV area from the composite

85 - 86 - Fridays high and POC from Thursday

80 - 81 Tuesdays high and volume node

70 - 73 ************ key support, high volume , Va high ---Bold intentional

66 **** single prints

61.50*** High volume


56.50 ****high volume


My plan will be to sell rallies with high $ticks...especially if we gap up in RTH into one of our two key zones above today's highs....we know what usually happens after trend days
too bad im too slow to adjust and buy that 77! Kudos, Bruce and any one else who jumped on it! sigh...watching...
last contract is trying for 82.50...in front of air!!
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924
Yeah, I know it's an ugly chart but I know what it's telling me. Right here,right now, the only confluent Fib levels. Above good, below bad. I could make a case for each direction large using patterns. Remember to be suspect until. Still between 1003 and 1099 wave. Note I have up and down fib extensions. We pierced that dark blue downtrend line this am. Same one that held at 1099 area. Banks still under S/R level lost last week, but barely here.
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es 09 10 7212010 60 min
adding to my one contract at 79.25...long...may be a bit early on adding
three magic words..."tiples" and " air pockets"
BRUCE... is that what you call triples on 5 min, do you just trade for a stop run past that?? just curious what you expect as a tgt.
thanks
will only add again if they run the hour low before that triple...getting above the triple and this evil 80 area hopefully will go good for the hour highs
yes...I trade for them to get broken...anything beyond that is usually just lucky with runners...
Originally posted by chrisp

BRUCE... is that what you call triples on 5 min, do you just trade for a stop run past that?? just curious what you expect as a tgt.
thanks
interesting how hour low and On low not run....but they certainly good

failed triples go 8 - 10 points away quite often and I'm not short but my mind is thinking of my key 72.50 area and triple high price .....I know many have single prints marked at 75.50 too...but still long!!
Sounds interesting to me Phileo - looking forward to it.