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Es short term trading 9-3-10


Here are my Supp/Resistance numbers ahead of the big report..

89 - 91.50...this is the highest volume of any price when we combine the profile from May6th forward ********** big kahuna

1101.75

1106.75

1110.50

1115.25

1118.50 ***** ( Ok maybe not tomorrow)


Support

1083.50


1077.50 - 79 ***

1070 -1071.75

1065.75

1059 - 1060.25

51 -53.25

46.25
Some significant projections up still untouched and currently sitting right on oversold PRC band. Interesting to see what happens tomorrow being Friday and labor day weekend is seasonally bullish.


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30fibprjec9022010a
If they can push above 1100 then I'm looking for shorts ....key number at 1101.75
Hmmmm, 1096.75 reached. Can that 1111.00 number be reached? We now have two 4.326 projections reached off a good low to make such projections. Not saying that number will be reached today nor am I saying it will be reached at all but the evidence is there to support a move to it or the general area sometime in the future.


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30fibprjec9032010
short 1102.75......I know that 1106 lurks above!!...cautious
they need to come back and test 1101.75 and 1100 soon or this trade is in trouble...me and the O/N is like oil and water!!
lol... I know what you mean. It seems to simple but vastly different from RTH.

Originally posted by BruceM

they need to come back and test 1101.75 and 1100 soon or this trade is in trouble...me and the O/N is like oil and water!!
Lorn....do u trade exclusively off those projections or do u use them for confluence from other methods....or is it something you are just currently monitoring to see if it works consistently..?
flat at 99.75....Had two on......
I use them as confluence.

I think whatever one uses for confluence or key numbers is really what makes sense to you as the trader. One trader may be able to see fib zones while another sees the volume zones, etc. A lot of times (most of the time from my observations) these different methods generate the same areas.

I've said it before to you, I'm not a mechanical trader but a discretionary one. Again its like above, some traders are better mechanical and some are better discretionary.

Knowing both ones strengths and weaknesses is key to long term survivability in this field.

Originally posted by BruceM

Lorn....do u trade exclusively off those projections or do u use them for confluence from other methods....or is it something you are just currently monitoring to see if it works consistently..?
well said......confluence rules!!!

I'm using the 1101.75 - 1103.75 as my key resistance zone for obvious reasons......


I'd like to see the high to low day today or at least early on


another report at 10....

I like the 95 area for short targets this morning...
a great ending......hope all enjoy the 3 day weekend....here is how it looked in my world......I'm not showing the one minute micro gaps on this chart....
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tripruns