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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.
first target is now 52.75...if they won't give me that soon than you longs are off to the races for the OVB up today
got 50.75 and have one left with stop at 53.25
and nice call on the 55 big mike...50.75 was breakout point...let see if any real buyers here now
hopefully everyone saw where the triples were and the reason for my add
my old pal 51.25 helped me out on that.....that was single print fill in too...
If you look closely at this chart you will notice the pullback into 3:30. Now look at the bottom of the chart which shows the cumulative delta for the day. It was decidedly negative at the start of things and got better as the day went on. When the breakout occurred just after 2:15 it went positive. Prices kept moving up and ask's kept getting hit increasing the delta. On the pullback we can see delta retreated mildly and at this point VWAP was climbing indicating volume above the average entering the market. A good tell prices weren't done going up.


Click image for original size
footprint 8252010c
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
Welcome to the forum!

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

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

clicking on the hyper text will take you to those topics
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