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ES Short Term Trading 02-04-2011


Weekly RTH profile.


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30minmp02042011
Sorry bout the euro chart!..3 hours sleep!... up 3.5 handles on the day and watching... Normally, i would have taken one off at my 1302.50 and held the runner for closer to 1296-7 but i promised Thu we'd do something today for Vietnamese new year.(see picture at the end of Kools Tools primer #2 thread and you'll understand why!..LOL)
Against the consensus, as usual, it would appear the kools tools number 1296-1297 will come into play.. I'd be a buyer there, however as today ,seasonally should be flat to slightly down on a closing basis... and the 2.618 of 1288 seems a bit much for that!
im going to try a sell at 1302.50 with a stop just above the vwap and red avg on the 13 min chart at 1303.25...maybe 2 handles max
Here is a look at the VWAP chart. Should be telling how prices handle a challenge into it.


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1minvwap02042011
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1159
the full initial projection on that one min chart has its 1.618 right at the vwap..1303.25 an ideal short term scalp area,imho
Agreed Kool.

Originally posted by koolblue

the full initial projection on that one min chart has its 1.618 right at the vwap..1303.25 an ideal short term scalp area,imho
Hope you took advantage,Lorn!.. I was too antsy and entered a bit early at 1302.50.. will take one off at 1301.00 to reduce risk...
Nope...no fill at 1303.50.

Originally posted by koolblue

Hope you took advantage,Lorn!.. I was too antsy and entered a bit early at 1302.50.. will take one off at 1301.00 to reduce risk...
Important turning point coming up around the 12:30 timeframe give or take ,imo
#$!@ stopped on the runner at 1304.00, loss of 1.5...now up 3.5 on the day