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ES Short Term Trading 7-30-10


So the POC is right at 1100 even:
http://www.mypivots.com/board/topic/5894/2/value-areas-and-point-of-control-2010-q3#64840

Economic Events for Friday:

08:30 AM GDP
08:30 AM Employment Cost Index
09:45 AM Chicago PMI
09:55 AM Consumer Sentiment
03:00 PM Farm Prices

http://www.mypivots.com/trading/economicevents
I BELIEVE I SHOWED THAT AN HOUR AGO ...1:59 CHART... IT WOULD ALSO BE THE 'NORMAL ' 20 handle range...
nice trade Blue!!
Hi KB!

I am following your tools, price projection, I have to tell you, they really work! Thanks for sharing these tools.

10 Handles today! :)

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15 min price projection
there is a gap at 98.25...late for fades but keep it in mind...I'd like to see them leave that and you folks get your 1104 first...
this gap came with volume..here it is
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gap
Air pocket


Originally posted by BruceM

this gap came with volume..here it is
Click image for original size
gap


Click image for original size
air packet
Nicely shown Nigel!
Originally posted by Lorn

Nicely shown Nigel!


Thank you L! Learning alot with all of you guys! Finally I am appling it and it is working. :)
I made 40handle from kool tool today. Thx so much
Originally posted by MrTee

I made 40handle from kool tool today. Thx so much


Wow, is this not great! good for you.

Air Pocket filled.
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pocket filled
You're sharp,Wendy! Actually , i dont normally use fib retracements, just my Kools tools fib extentions. Sometimes, tho at what i feel may be an important high or low, I sometimes look around for any other kind of corraborating evidence to support my theory (like is there support or resistance here?,are any cycles topping or bottoming here,is this a previous high vol zone?,...etc). Probably just a confidence booster. I have never found fib retracements to be tradable. Doesnt mean they arnt, just not for me. In this case i believed the low was important in that i was looking for the daily low to be made here, and possibly for the next few sessions. I was caught a little off guard as if memory serves, i had just logged on 5-10 min before it occurred and really had no time for much study!. That in itself speaks to the power (and confidence i have) in my fib extentions. Hope this helps explain my view and actions a little better.