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ES 5-12-2011


Developing RTH volume profile for the week. Notice relative volume on the bottom increases as prices drop and decreases as prices rebound. The profile itself is interesting, kind of like clumps with not much in between.


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es30min05122011
Short 39.50, looking for 36-37. Just need 39.25 to crack...
nice trade..it looks like 36.75 is where the buyers tried to step in....interesting spot
could be setting up nice symmetry for move up to 44 - 45 area, 30 and 60 min break out tgt 44.75 area, yest BD level unfilled air of 45.75 also low vol I believe
Reversed at 36.75. May pull back to ~35, but I hope not. ;] Target 41.50 and 43.
watching this low voluem push up off that 36.75 area.....Ideally we want volume to increase and bring in greater participants on the rise....hope it keeps running for you...just not convinced they are done with 37.50 yet either

grabbing some lunch...good luck with the trade!!
I like using $BANK as a leading indicator. It's sitting on its daily gap fill right now. Would like to see that pop higher to pull the ES over this 39.25-39.75 area. If BANK rolls over, then I will feel much more worried about this long.
Originally posted by BruceM

watching this low voluem push up off that 36.75 area.....Ideally we want volume to increase and bring in greater participants on the rise....hope it keeps running for you...just not convinced they are done with 37.50 yet either

grabbing some lunch...good luck with the trade!!


Thanks! Have a good one.

It's also getting late in the morning, so I could see some steam being let out of this rally. If we do get up to ~43, I would think there would be a pullback there. My short targets there would be this 39-40 area, 35.50, and 32 (if that 43 holds... and if we get there at all).
gap at 38.25 now in the market.....lunch is over for me....into that dreaded low volume zone again above 40...!
shorting light into 45...they could keep running it up here...30 minute close above 45.50 will be a concern
nice one !!
Originally posted by chrisp

could be setting up nice symmetry for move up to 44 - 45 area, 30 and 60 min break out tgt 44.75 area, yest BD level unfilled air of 45.75 also low vol I believe
Like with most sup/res, they aren't always exact. Sometimes it comes in a little short and looks like a 50%, sometimes it goes a little long and gets closer to the 61.8%. But in all, I feel more comfortable with the 52.8.

BUT, you have to make sure you are measuring from the right direction. 52.8 in one direction is the 47.2 in the other direction. Using today's data, measuring from the PP up to R1, you see support at that 52.8 level. If I had measured from R1 to PP, then the level would be too high.



I have a script that auto-calcs the fib levels between the pivot levels. For example, if I double click in between PP and R1 (but closer to R1) then the levels are calculated originating from R1. If I click closer to PP, then they are outputted originating from PP, etc. Great time saver.

Can you expand more on what you mean about "combining momentum with the pivots"?

Daniel


Originally posted by grednfer

Neo....
Its good to hear someone from the pivot site actually uses these thingees.......I have an algo background....and have only recently incorporated a pivots (go figure right?).....I really like it.....Simple, easy to calc and visualize and TEST!, yet dynamic.....

I've haven't tried the 52% factor, but I use 50% just like another pivot.......it pops up alot.

Like tonight....NQ AH top is 2308=((R1-PP)*.5)+PP......its works alot....

I really like combining momentum with the pivots....but I have to adjust the numbers so I get movement through the pivot....I haven't perfected that yet(need more data).....Its just a fixed adjustment....on ES it seems to be 1.5-2 points....

Very Cool.....