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ES short term trading 1-28-11


If you refer to yesterdays 9:16 post showing the projection off of the low, and the 9:36 post also i refer to the 1298.50 level.. it should come as no surprise that once again we just made a marginal new high at 1298.50 .. currently short from 1298.25 trying for 1295.50.... beyond that,my analysis of the last few days and weeks APPEARS TO BE IN FORCE, SO I WONT RE- HASH IT TODAY. The upper channel line i showed yesterday looks to be around 1301.50 currently. Still looking for sideways to up thru tues next week!
that is a subtle but important point of your method Kool. I wonder how many got that idea....basically what happens on a failure to reach a target can often give great feedback on what should happen in the other direction
Originally posted by koolblue

Note it stops at the 1.618 (actually short a tick... giving a clue?) but goes to the 2.618 on the downside?
Giving it a shot here, long 1273.25. Stop 1272.25.

if 1272.50 is the low then it should not go any lower than that, at list for now. Will see, in due time the market will show us the way.

ES trading 1275.25 @ 13:31

ES trading
Originally posted by WS

Notice that it's hitting the resistance trend line in the lower intraday charts. (10M.) @ 1277.00 or so.
1277.00 is a intraday S/R, so a test will take place here and possibly a test of the recent low 1272.50.

To the outside : Moving above 1277.00 and 1279.25, will target 1283.00 and 1287.00.
Moving below 1272.50 will void the above.

I'm currently flat and waiting for the proper set up.

ES trading 1277.25 @ 12:33
going back for the 5 min red avg(15 period ema) ... normal behavior. I cant get short bullish untill they hold above that ! if they do then 1284.25 is certainly possible
Originally posted by BruceM

that is a subtle but important point of your method Kool. I wonder how many got that idea....basically what happens on a failure to reach a target can often give great feedback on what should happen in the other direction
Originally posted by koolblue

Note it stops at the 1.618 (actually short a tick... giving a clue?) but goes to the 2.618 on the downside?

absolutely! thats why im explaining so much in my posts today!.. with all the little nuances weve seen its like a textbook for Kools Tools unfolding! lol
Click image for original size
1125
I gave back $50.00 bucks to find out that it wasn't the low. Stp out 1272.25 and trying again 1272.50 LOL stp 1272.00
Originally posted by WS

Giving it a shot here, long 1273.25. Stop 1272.25.

if 1272.50 is the low then it should not go any lower than that, at list for now. Will see, in due time the market will show us the way.

ES trading 1275.25 @ 13:31

ES trading
Originally posted by WS

Notice that it's hitting the resistance trend line in the lower intraday charts. (10M.) @ 1277.00 or so.
1277.00 is a intraday S/R, so a test will take place here and possibly a test of the recent low 1272.50.

To the outside : Moving above 1277.00 and 1279.25, will target 1283.00 and 1287.00.
Moving below 1272.50 will void the above.

I'm currently flat and waiting for the proper set up.

ES trading 1277.25 @ 12:33

Moving stp to B.E.

ES trading 1274.00 @ 13:49.

Will see if it give it to us.....
Moved stp up to 1273.00

ES trading 1275.50 @ 13:55
Originally posted by WS

Moving stp to B.E.

ES trading 1274.00 @ 13:49.

Will see if it give it to us.....
Moved stp up to 1274.00

ES trading 1276.50 @ 13:59
ES is testing the 1277.00 S/R. Moving above it and overcoming 1279.00 then it's most likely that will hit the objectives previously posted. Will see, in due time the market will show us the way.

ES trading 1277.50 @ 14:04
A PICTURE IS WORTH A THOUSAND WORDS...I thought your chart looked "clean"..thanks for posting it