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ES on 3-18-11

Sometimes you get lucky. Got home from work and re-shorted the 1269 for an O/N trade, and placed order to cover @1262, which was the low during RTH. Just got back from family dinner, and lo and behold, my short was covered at 1262. Then ES shoots up to 1279+. New short placed at 1279.50. Whoever was watching that double bottom at 1262 early tonight and went long - congrats! Setting up for nice trade tomorrow.
Originally posted by MonkeyMeat

If you provided some rationale for the trades, the method/strategy of how and why you chose to enter and exit when and where you did, that would at least be educational and perhaps useful to others here. It's also nice to have a chart(s) to post displaying your analysis for the trade(s) as well. Just an idea Stevo. In the mean time, glad you had a profitable trade.


Good advice MM

Good trade Stevo, take the comments as helpful suggestions. I did see that low form yesterday evening, and I also had a short off the close which I also covered in that same price zone. I came back and looked at the market an hour later and was very surprised to see it was 10 points higher ! Wish I had gone long there, at the time I had no idea what was happening or going to happen so was just a case of looking back wishfully.
76 - 78 is first volume I see on downside today
Here we go again with this CD imbalance early going. I've also added to the bottom of the chart a second type of CD which is based on up/down ticks.

Click image for original size
we got a complete retrace from the pop up we got on the libyan news.
This has options expiration written all over it. i think i will sit out of the chop today. have a great weekend day everyone. See you monday
Bears entered. If going above this "kernel", they will cover
Click image for original size
a bears
Perfect call from the 84 level Bruce, just like a magnet =)

Originally posted by BruceM

76 - 78 is first volume I see on downside today
They can also add at that level. Sorry for multiple posts.
Today fingers are faster than brain
Good morning!....happy expiration day! Nice rally, but note that the nas is badly lagging the s&p500 again today! That is not the stuff long lasting rallies are built on! You are likely to see a stiff retrench of this 2 day rally Mon and Tues, i'll bet!..
Here is VWAP and CD chart again. I've changed the parameters of the CD so that you can see accumulation of the life of the contract rather then just the day only. I think perhaps this should make it a bit clearer as to what I'm trying to point out in regards to divergences and imbalances using the CD. Its not a reflection of above/below the zero level but rather the pivot levels of CD in regards to the corresponding pivot levels of the price chart.

Click image for original size
critical mistake I made on numbers...will explain later but 75.50 - 76.50 is the real volume point...chart later

Great stuff here. Keep up the good work.

My bias today was long. I made two trades. Apparently there is a "ban" on non real-time trades, so I will simply ask for comments on the next few day's direction, starting on Monday 21 Mar.

My thoughts were we were going to at least hit 1292 today before heading back down. Generally speaking I only trade 1 - 2 times a day and place a single order that upon execution, triggers an OCO. After my first successful trade for the day, I entered my second trade at roughly 0905 hrs EST with a buy at 1283.50. My profit target was 1288.00. Obviously that did not hit as the high on the 0925 hrs bar is 1287.25.

The above is one of the disadvantages of not watching the ES tick by tick (I gave that up after several years of futures trading). My current method is more like fishing and no trades or a trade every other day is fine by me. I adopted this method from my success with swing trading stocks and I'm surprised at how well it works.

So, my post is a small introduction as well as a desire to solicit members thoughts on direction for the next week. I'll throw my hat in and say we'll visit 1300 before re-visiting the lows established this week.