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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
THAT S IT.. ill sell the red avg..1006.00
1102.75 are single prints form Mondays trade....so if buyers can do it that is the pointto watch...I think buyers will fail and they will run it down some more
Originally posted by BruceM

1102.75 are single prints form Mondays trade....so if buyers can do it that is the pointto watch...I think buyers will fail and they will run it down some more
Good point.. even if we are right, a move to 97-99 is only a 'normal' range day!! And imho we still need a 27-35 range day to 'even things out!! (tomorrow or friday?).. i'll be trading crude, but my gut says up into the aug 2-3 timeframe before a much bigger decline!!! (similar to the 1219 top)
currently one min chart wants 1.618 at 1006.25 or 2.618 at 1008.50.... maybe
hey, Bruce!..you long? short? doin anything today or not?... i see its been very slow and boring so far
Originally posted by koolblue

next ..1002.25? a good bounce then 98.50?...who knows... buying (one only) at 1002.25
hmmmm
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.


8-31-06 4.00 point range Therer were more than one back in late 05 early 06, begin of 07.
11-21-06 3.75 range

hari, if you want to see small daily ranges, just look at a chart of the VIX for low readings.

I can remember 2006 as containing many days of painfully small ranges RTH.
end of 2005 into beginning 4 months of 2006, painfully small RTH, some like 5 points.

Sept 2006 up to Feb 07. I remember, I was trading 89 tic ES charts.

I don't know whether everyone remembers my earlier post, but one tick "fake-out" proved to deliver a weak bounce that ultimately failed.
Originally posted by koolblue

could be a small shampoo here!head n shoulder s top )
forming on the 5 min chart...if so , project around 1002

double hmmmmmm
selling 1004.50
short and watching 1106.75 - 1105.75....POC's and Va's there for me...I'm trying to shy away from posting actual trades as I want to focus on the concepts......for some reason it is always tempting to post positions but I question the Value for end users...I guess it makes it a bit more interesting.....anyway I want runners to get Mondays lows but I know how that goes for me.....


Neutral days either close on extreme or in the middle quite often ...I'm hoping for the down close extreme based on the volume areas I mentioned earlier...chart later...bond close is always a rough place and time for me.....so holding is harder in here
Originally posted by koolblue
br]hey, Bruce!..you long? short? doin anything today or not?... i see its been very slow and boring so far
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.