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ES short term trading 8-20-10


Zones I'm watching on Friday and further ( i had to edit these due to a data problem)

1097.25
1089 - 92.75
1084.50******
1075 - 1078.50

1068 - 70.25****

1060-61
taking some at 67.25.....holding 4
error holding 3....air still up there..
air filled..now it's decision time....back to the open print or go get the O/N low...?....I like revisit open idea...YD created 'b' pattern....so go test the bulge!! lets see what YD low has!
Kools tools says you should get 68.75 from 64.25-66.0 move, fwiw

Originally posted by BruceM

error holding 3....air still up there..
the same way they love the 60 and 90 minute, they will break this 30 minute..getting below 66 will help decide if it comes back down...remember 66 - 68 was the revised key zone
thanks Prest...my runners need to see 66 hold for the long targets...I want to see 74 ...ultimately!!could be a long and difficult hold
took one off at 69.25...that is OR low!!
they will need to bring it down again....no bee line up..unfortunaetly
they are going for trhe "w" pattern off 5 minute....first down, then up, then down, then up...Got it? LOL
runners stopped 66.75...will try again...hopefully..below current lows of the day...near O/N low
While doing some research I came across this post on Dr. Brett's fine blog.

http://traderfeed.blogspot.com/2010/01/reason-i-dont-partner-with-your-firm-is.html

The Reason I Don't Partner With Your Firm is Because You Are Cheap Whores

* You are a forex brokerage that lures small accounts with enticing promises of huge leverage;

* You are a "prop firm" that requires traders to pay big bucks to join, drastically limit the size that can be traded, charge ridiculous commissions to traders, and toss traders (or ask for more money) when you've milked them dry;

* You are a trading guru that touts your trading prowess (with no evidence of success), but offer nothing more than off-the-shelf technical "setups" that are readily available in the public domain;

* You are a trading coach that promises success without offering substantive trading guidance (and without showing evidence of substantive trading knowledge);

* You are a brokerage house that executes a fixed income trade for me and then busts the trade and offers the same trade now at a much worse price (yes, this happened to me this past week);

* You sell inferior trading software with breathless promises and faulty logic;

* You offer seminars that offer nothing but infomercial sales pitches to attendees;

All of you have solicited my partnership and support in the past month.

Go f*** yourselves.