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ES Day Trading 5-25-2011


Two vprofiles on this chart. Last weeks and the developing one for this week. Tight range so far this week and the bell curve shaped profile signaling a fight between bulls and bears. Interesting to note VPOC is below last weeks range.



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es30min05242011
Well said bruce, I have this conversation quite often with other traders as they find it quite strange I "add to losers" I look at it as improving my entry price.
now there is a ledge at 1317.25 and the key breakout ( single prints ) at 15.50.....logically it's a no-brainer...

the folks who caused that ledge will be trying for new highs on the day....they have the support of the longs from 1315.50 but if they can't get the highs they will start selling and that ledge will be run out and they wil go get those single prints...

Our job is to analyze volume to see if the up move is being supported as we rally up..that is the hard part...quite often it is hard to integrate the logic with an actual trade...we can see that the entire down leg was on much lower volume then we have seen on the up move...they also tested a previous 30 minute bars low..

It may be wishful thinking on my part but I think we are gonna roll back down based on the two day volume pattern
timing is perfect on this post Bruce... I added a couple times yesterday, it worked for me, but was dieing to ask someone if this is a norm. Your post is all round... AWESOME! many thank.

Originally posted by CharterJoe

Well said bruce, I have this conversation quite often with other traders as they find it quite strange I "add to losers" I look at it as improving my entry price.
Excellent point Joe. We need to represent what we are doing in our mind in a positive way.

Which sounds better " adding to losers" or "improving my entry price" ? One way sends positive thoughts to your brain and one is sending negative thoughts...

A subtle but important insight....thanks for the feedback Joe !
Originally posted by CharterJoe

Well said bruce, I have this conversation quite often with other traders as they find it quite strange I "add to losers" I look at it as improving my entry price.
I don't see an air pocket at 12.75 only the 15.25 !
Originally posted by TradeQueen

Curious if those air pockets at 1315.25 and 1312.75 is still in contention? Plus I just noticed triples at 7:15am not filled.

Am I seeing correctly? Concerns? Or other instance void these?

just a heads up.
at about 7:25am just after the triples... am I mistaken? Just one tick I beleive.


Originally posted by BruceM

I don't see an air pocket at 12.75 only the 15.25 !
Originally posted by TradeQueen

Curious if those air pockets at 1315.25 and 1312.75 is still in contention? Plus I just noticed triples at 7:15am not filled.

Am I seeing correctly? Concerns? Or other instance void these?

just a heads up.

That's great....no problems with it as long as we keep to our plans and discipline....

I think people can look to the other areas of their life to fiqure out if they have discipline...do u give up on diets or exercise due to lack of discipline? as one example...do u watch more TV than you plan ? Do you start projects and stop due to discipline ? ( not specifically directed at you Trade Queen )

My only real point is to look at other things that require great discipline to be "successful" in your life. I'm not saying that just because we haven't reached our goals then it must be because we lack discipline....Just something to think about before risking money by adding to trades...perhaps it just isn't meant to be for certain personality types....there are so many ways to trade and take losses...match them up to oneself

thanks for writing!
Originally posted by TradeQueen

timing is perfect on this post Bruce... I added a couple times yesterday, it worked for me, but was dieing to ask someone if this is a norm. Your post is all round... AWESOME! many thank.

Originally posted by CharterJoe

Well said bruce, I have this conversation quite often with other traders as they find it quite strange I "add to losers" I look at it as improving my entry price.

OH , ok..I don't look at either usually in the overnight but I will watch single prints on the 30 minute the from the Overnight session... I still don't see an air pocket from the O/N session though
Originally posted by TradeQueen

at about 7:25am just after the triples... am I mistaken? Just one tick I beleive.


Originally posted by BruceM

I don't see an air pocket at 12.75 only the 15.25 !
Originally posted by TradeQueen

Curious if those air pockets at 1315.25 and 1312.75 is still in contention? Plus I just noticed triples at 7:15am not filled.

Am I seeing correctly? Concerns? Or other instance void these?

just a heads up.


Dang it... I'm sorry.. I'm west coast and I keep forgetting. would of been just after 10:25am triples east coast. gosh I have a way of complicating everything!

[quote]Originally posted by BruceM

OH , ok..I don't look at either usually in the overnight but I will watch single prints on the 30 minute the from the Overnight session... I still don't see an air pocket from the O/N session though[quote]Originally posted by TradeQueen

at about 7:25am just after the triples... am I mistaken? Just one tick I beleive.
Using RTH only, looking at opening low to high, just made a 0.382 pullback at 1316.50.

Plus nice symmetry looking at 9:50-10:15 EST pullback projected down from highs.

Plus, I like this 17 area. Let's see where we go...
There's divergence in this market. This is a 5 min (daily numbers: 1 SMA, 3 typical SMA, & 8 EMA. The 8's leveling off and the 1 and 3 are trying to drive prices lower. Some heavy chop swings coming down the pike.

Chop I says. 12, 16, 21, 35, 43 I says.

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snp