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ES 7-01-2011


Important reference numbers starting today.

Monthly close 1314.75 (4:15pm), keep in mind this is also a quarterly close.

Monthly High/Low 1342.25/1252.25

Quarterly High/Low 1368/1252.25

50% of quarterly range is 1310.25, so we have closed above that.

VPOC for the Quarter was 1323.00 and the profile has peaks in two places, at the lows between 1260-1280 then again near the June highs between 1220-1240.

Keep in mind these are all based on the September contract.
BruceM I'm sorry I did not see your post when I placed mine
started to unmwind this at 25...key number and just about 2.5 points off the highs...people I have taught the window to like to use 4 points off the open print and look for change in volume...so they would have been watching the plus 12 number off the open..


it worked better when volatility was higher and ranges bigger..so u would often see a plus 12 in the first 90 minutes back then.



no test of a previous bars low..........YET !!!
final target is trying for 22.75...that is just above first air pocket.. here is how I have it.....volume histogram shows key area....air pockets don't work as well when we trend...good examples of that this week...
Click image for original size
airpocket



The only other trade left is trying to sell above 90 minute high if they can push them out ...especially if we haven't had the break of a previous 30 minute low...
no apology needed....it's all cool by me..!
Originally posted by khamore1

BruceM I'm sorry I did not see your post when I placed mine
Tradequeen brought up an interesting point the other day.....the pitbull trader would be done once we trade 2.5 points on both sides of the opening range..

so today they would have bought the opening range highs after the minus 2.5 hit and they would be done....they only look for fades when the "window" isn't complete....
They just don't want to give those expecting that selling tail to hold any satisfaction...make us suffer a bit....best thing would be to see a new air pocket and a big thrust above those 90 minute highs..get it over with...


just like yesterday , the $ticks and volume are gone..
so far the $ticks have confimed the lack of buyers on the 90 minute breakout.....not gonna be that easy though....we all no where the bulk volume is and the 30 minute lows are...ideal will be to get a 30 minute close below the 90 minute high and the 60 minute highs
Actually, just followed rule #1 today!
"1) If we open and drop down to the minus 2.5 number then rally to the open you buy"

Originally posted by BruceM

Tradequeen brought up an interesting point the other day.....the pitbull trader would be done once we trade 2.5 points on both sides of the opening range..

so today they would have bought the opening range highs after the minus 2.5 hit and they would be done....they only look for fades when the "window" isn't complete....
normally it takes volume to keep a trend going....the higher lows on 30 minute....I assume that volume should really taper off over lunch as it has been doing which in theory should help us mean revert a bit

gotta watch that volume node and 60 minute high at 26.25 as POSSIBLE support
worst thing to see now is a break of that last 30 minute bars low to the downside and then new highs......that would imply that they tested the trend and the 60 minute high and the buyers are still here...
They maade us wait until Tuesday...lol