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ES Short Term Trading 01-05-2011


ON profile. You can see today we have two HVN to work with.


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onprofile01052011
Originally posted by BruceM

I also sold 70.75 so I moved target up closer to exit sooner
...oh, thx...well i just got stopped giving up almost half my daily profits! sigh still up nicely tho.. i think i learned my lesson.. stick with the game plan!... waiting for a decent long opp.
ES moving up towards the objective at 1276.00. resistance at 1273.50. consider taking partial profits here.

Objective will be void if moving below 1270.00
ES trading 1271.75 @ 12:12
Originally posted by i1hunter

ES testing R1 at 1270.75, and previous. day high (PDH). was 1270.00.

After some test here and holding above PDH then the objective is at 1276.00

Below 1269.00 voids the above.

ES trading 1271.00 @ 11:41
Well. time for lunch. hmm zig-zag city here, but If everything goes well, the 1276 may be at the end of the session.

Will see, in due time the market will show us the way.

ES trading 1271.50 @ 12:24
Originally posted by i1hunter

ES moving up towards the objective at 1276.00. resistance at 1273.50. consider taking partial profits here.

Objective will be void if moving below 1270.00
ES trading 1271.75 @ 12:12
Originally posted by i1hunter

ES testing R1 at 1270.75, and previous. day high (PDH). was 1270.00.

After some test here and holding above PDH then the objective is at 1276.00

Below 1269.00 voids the above.

ES trading 1271.00 @ 11:41

I agree Hunter.. nice analysis! Boy, i think my last trade (a short) was decent odds ,but i should have gone in for one instead of the usual 2 es since it was counter to the trend and my own analysis! sigh...
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1025
Back from lunch. I see we still holding above 1270.00.
From the previous low at 1270.25 (1M chart) we need to move above 1273.00 for the 1276.00 objective to become positive. Right now we are in a neutral zone 1270-1273.
Moving below 1270 will target 1267.50 for support.

ES trading 1272.00 @ 14:03
1270.00 still holding. The objective 1276.00 could be realize by 15:45. We still need to move above 1273.00, now a double top.....
will see in due time the market will show us the way.

ES trading 1272.25 @ 15:00
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1026
76.25 is R2 today but I'm just watching...longs need a 30 minute close above mondays RTH high
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1027
well i had 2 orders on.. one to buy at 1272.00 and one to buy at 1271.75.. so far the 72 one got filled . why?.. the red avg on the 5 min chart (1271.75 currently) which should hold if a late rally is going to start. This is very risky tho without much risk reward, so no way i would advise anyone to follow my actions!
here is a look at the 30 minute closes from today. a few quick things to note:

1: The close above the hour highs
2: The close above the high from Tuesday
3: The failure ( except for the 4 pm close) to get a close above the high from Monday
4: The ping pong match of price not being able to close back below Tuesdays high and inability to sustain the close above Mondays highs

I used the concept to take a good loss. I sold the 69.50 and the 70.75 but exited when we closed above Tuesdays high on the 5th bar of the day.

I also went short the first time we went above Mondays based on a few market profile reasons.. I won't mention here. Email me if you really need to know. Here is the chart. I'm not gonna ram this concept down anyones throat. You will either see the value to it or it will be useless to you. Nuff said!
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thirty minute closes