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ES short term trading 8-25-10


They've kept it symmetric O/N ahead of the 8:30 a.m. reports. So the center of the range will be important,,,basically the 51.25 - 52.50 area. Below we have 39 - 40 and above we 59 - 60 which I thought would have printed Yesterday. Further up we have 65 - 67.50.
I want to resell on a break of the second band and trade back through
I am done for today, but thinking long at 1048.50 over YD close and possibly to 1055 area.
This chart is quite amazing looking. VWAP in the middle with a bulge of volume above it and a bulge of volume below it. Someone is going to win this war eventually.


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footprint 8252010a
I think they want to fill in that cleavage Lorn...LOL!
two problesm with my thinking

1) no alternative target...no trips or ledges like YD down below
2) that 51.25 was a strong magnet YD...so they may need to go test it
again today
retesting 48.75 previous hod
really need to see this get below 47.25..that is first band and developing VA high for today..POC as per volume will move up on trade back to 46.25 and put VWAP below POC!
Breakout of the range and you can see the delta go from - to + real quick. Gonna need a big dose of selling to return to VWAP.


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footprint 8252010b
this is second try on shorts .... this time from 53.75....looking for 52..tough time...
added at 54.50...
thanks for the reply, will look at your answer in detail and let you know if i have any questions....thanks again

Originally posted by BruceM

hello and welcome...see the running the triples thread but in general the triples are 3 , 5 minute bars in a row.....they formed today right at yesterdays Vwap and POC and they come back to test vwap and POC often when broken....I also had that price I was watching from yesterday which was 51.25 so I had plenty of reasons for a Possible retest......there was also an air pocket on the one minute down there.....so adding was a bit agressive but justifyable...hope that helps
Originally posted by apk781

hi bruce, i am rather new in this forum; have been following the discussion for a bit but could you elaborate a bit on the reason you added and where the triples were? thanks

Originally posted by BruceM

hopefully everyone saw where the triples were and the reason for my add