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ES Short Term Trading 02-10-2011


Here we are again. Like deja vu from yesterday. Notice the weekly profile still sporting the bell curve shaped profile. As Bruce said yesterday, it was a neutral day. That curve proves it, even with the wild up down moves in price. And I also think this shows true trending action happens even less then 20% of the time as Bruce and others have mentioned. I recall the great Paul Tudor Jones in Market Wizards stating trending action happens less then 15% of the time so he always wanted to fade new highs and lows.


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30minmp02102011
You can see Bruce as per CD they are trying to support the break out.




Originally posted by BruceM

I was really hoping those hour high players would just step aside and let my short do it's job...HA!!


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1minvwap02102011b
I have lowered my stop to breakeven (1308.50) on my runner for no risk...as its above the one min upper prc band now...
Originally posted by koolblue

I still think it might! I just want to try a long around that 1313.25-1314.75 zone! Probably exit my runner around 1315.50 if lucky...
.. The one min prc lower band is now srouns 1314.75 and i have a little cycle turn coming at about 1:10 and another possible around 1:30
10 min to go!.. last little one min peak also says 1315.00. And that print of 1316.25 is price action re-inforcing my view (of a move to 1314.75 or so) I hope!lol
if i had more than one runner left I'd be trying to get something off at the hour close...knowing that the 15 area is general was trouble on the way up....


ah CRUD...I just went market at 15.50 print..just couldn't take it..flat now......sometimes when an area is obvious they can make it real difficult on us and jerk it around...so that ledge down at 1314 is fairly obvious....best to get out in front of that
Runner exited at 1315.75 (they wouldnt fill me at 1315.50) placing a buy at 1314.75..now up 4.5 handles on the day..t-minus 5 min?
Thanks Lorn....that's exctly what I want to know about.......and that is what happens with CD at key inflection points....like a 60 minute high in this case ? Great chart..very helpful
I agree great chart. But i'll tell you what i take away from it is no positve divergence yet.. meaning lower prices ahead (1314.75 or the 13 min proj at 1313.25
)
Note also there is hourly and 30 min air at 1313.75!
my data isn't showing any air down there koolio...all I have is that ledge at 1314...Dalton now calls them anomolies...I call them Tempting as I'd like to find a short on this push up near 17.25 but still flat....
well, this is the second(and larger ie:more important cycle turn) turning point . I'm hoping it turns out to be a high.The charts all look so dam bullish i'm getting worried as i want to be long ,but we'll see
Hey Joe, can you pop up some charts for us when u have time..? I'd like to see those....thanks
Originally posted by CharterJoe

Originally posted by sij

may iask > that prc bands on kool's graphs are these the same as cog?



No there not the same I personally like starc bands better 15/144/2.618 on a 1min time frame....