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ES Thursday 10-6-11


Here is a recap chart from Wednesday. I'm going to get the date right tonight. Very instructive day and was hoping we'd have some good examples this week. You may want to reference Mondays and Fridays chart to understand this a bit more as those "bell curves" interacted nicely with todays trade.
Click image for original size
wednesdayrecap
a very common pattern and u should put this in your toolbox as we discuss these low volume zones:

Often the will push through fast and create an air pocket in the current day just before or right at the low volume from previous days...these make for the best retest trades IMHO...

so today we got the air pocket into and above our 45 - 48 zone that was created the other day

trying to hold for that 41 test on runners...will trail accordingly.
flat at 41.75...
Bruce...if you weren't in short trade, would you consider a long at the 1141 low volume node formed in the RTH If no, please explain.

Thanks!
Thanks Bruce. Great trading. Just repeating, so I understand... you waited until they pushed through that 1145 HVA, and fast; and when momentum died, shorted for the retest of the air pockets bellow...right?
Lisa...u are gonna get me depressed...I'm trying to work hard to get my thought process down on paper...so your questions implies that you aren't reading my posts...I'm not trying to be mean or rude but you need to read my first post today and also look at this thread which discusses Fridays levels and why..found here

http://www.mypivots.com/board/topic/6991/1/es-monday-10-3-11

I know you are a hard worker and I certainly don't expect everyone to subscribe to my ideas ( or anyones) just because they are posted but If you are interested in how I view the volume then please review the charts and read the threads...

sorry Lisa //nothing personal to u..I just get insulted sometimes...

us posters are a sensitive bunch...LOL....let me know if you have any questions...I'm more than glad to help even if I seem cranky sometimes...

Originally posted by Lisa P

Originally posted by BruceM

finally the push above 45 and there is still one tick of air at 41 even....this is for me...short 47.25...will take multiple stabs up here ..using 44 as initial target

Bruce, whe you out of your trade, could you please explain 47.25 short. I have nothing there. Thanks
No I wouldnot as I am not a good buyer in general but more important to me is using the low volume that is created during the current session as a target...It is my experience that I am not good at initiating in those zones so I avoid putting trades on there..
Originally posted by Sangeo

Bruce...if you weren't in short trade, would you consider a long at the 1141 low volume node formed in the RTH If no, please explain.

Thanks!
No lisa...45 was low volume to me.not high volume..see my cranky reply above....feeling guilty about that reply but I won't edit it...gotta stay true to who I am...ha!!
Originally posted by Lisa P

Thanks Bruce. Great trading. Just repeating, so I understand... you waited until they pushed through that 1145 HVA, and fast; and when momentum died, shorted for the retest of the air pockets bellow...right?
Bruce, please do not worry, i do not take it personally. Thanks for your patience with me and all of us. We all appreciate your shearing your knowledge and trying to learn.

As for me not reading your first post, you are absolutely right. I started late today 9had a system failuure) and did not have a chance to read it - so you were absolutely right. sorry.
great trading bruce and thanks for all the charts and lessons lately

keep it up

nick
ES moved up to 1147.50 and missed hitting the 1148.00 O/N high. I think it will try one more time or at list to 1147.00. I'm looking to sell in this area. It's hectic here today so I will try to follow up when I can.-.

ES now trading 1143.75 @ 11:07
Originally posted by NickP

thanks !


My pleasure NickP.