ES Short Term Trading 7-28-2010

Range Based S/R for July 28, 2010

R1 = 1122
S1 = 1102.75
R2 = 1125.125
S2 = 1099.625

1109 - 1110 was/is peak volume as per MP thread and the composite

JUST SOLD 1108.50...reasons in a sec...

Will cover one at 1107.25 ,just above the red avg... if they let me and hold the runner...

initial target hit...sigh.. but no fill!.. still hoping

ok, out one at 1107.25.. now moving stop to 1109.75 for a risk free trade for my runner... still trying to figure out my final exit... hold for my final objective of 1098.25?... nawww, too far.. 1104?.. maybe..

ugh!!! needed that 5 min bar to close 1107.25 , just under the 5 min red avg at 1107.50...close was 1107.50...sigh..

im going to try for an exit at 1104.75, just above the 5 min proj and lower prc band.. could always stop at 1005.25-1006.00 thats the risk...

I general we need to be thinking about the Monday , tuesday range and how often we penetrate that range...spending time below the key 1109 - 1110 prices and making new lows should in theory make a run at those lows

1106.75 is peak volume from todays trade so if we start making new lows that will put us UNDER the big volume from monday and Tuesday and also todays developing volume.....I won't fade those lows if they make new lows now..

Also today's trading is in the shape of the Bell curve...so moves come out of those.....

Originally posted by day trading

Originally posted by hari

Some of you may have been trading for more than a decade, what is the smallest daily range you remember seeing in ES (RTH)?
The range today ( so far ) is only 8 points.

If I remember correctly it was something like 3.25 points and it was the day before Thanksgiving Day.

Thanks DT.