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ES Monday 10-10-11


Here is the same Friday's 3 minute chart following up for Monday's S/Rs play.
Reviewing the daily chart I found one more resistance line that will be crossing around 1170/1168 on Monday, as seeing in the chart.
Moving above that trend line and testing as support will target the 1190.00 Objective.
I like to borrow some posts from Friday bc the same S/Rs are applicable for Tomorrow's session. (1163/1157/1145/43 and 1129)
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sandoxe | 7-Oct-2011 at 9:25 AM
It's important for the ES to close over 1163.00 in a daily basis. if so, next objective is 1190.00. 1190.00 is 09/27 high.
1163 was the S/R objective for yesterday. Now becomes the S/R base to play the out side. Below 1163.00 is 1157.00 also important
to keep in mind.
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sandoxe | 7-Oct-2011 at 12:35 PM
Wow. This market is gonna have to work very hard to get out of the negative fractal created today. Lots of zig-zags of 20 or more points to get out of it.
The other way, will be to go down to 1143.00 or 1129.00, gather some momo and back up to break 1170.00, few days in this area.
If 1129 does not hold? --Back to test 1068.00....
JMO.-.-..
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The above post mentioned that the market could be making 20 points (+-) swings moving to break 1170.00. -( Actually Friday's high 1173.75).
Notice that in the chart, the ES has made some good moves, close to 20 pts since that post. I hope it maintains that volatility, I love it!

As always, the market has the last word and in due time will show us the way.

I see for you the same I se for my self: Having the best of luck and fun, awesome profitable trading day!




Click image for original size
sp 500 es 3 minute chart 10102011 follow up from friday
so far the high volume node being created at the same place as the 9-27 node may be telling us that they are accepting price inside that range......which in theory should lead to higher trade...the conflict for me is that i still would have preferred to see that 79 - 80 retest and then start out making new highs....

we need more information that doesn't conflict!!
So far today's high is 1187.00. 3 points away from the 1190.00. Right now ES is moving down looking for support at 1180/79. Finding support in this area, it's most likely will try once again to 1190.00, possibly by the end of the session.
Will see, in due time will show me the way.

ES now trading 1182.75@ 14:08
for those that took that short we all know we are suppose to look to sell above the bell curves on the highs and buy below...now when we are only 2 tics away from the 1187.50 number I mentioned and you found for yourselves then it is in your best interests to look for the short side...

just pointing that out as I was not here to trade it but the bell curve did what it is suppose to do...find resistance and then try for the middle at 1182.50....perfect structure...


you bring up a good point Sand...when folks have only 3 points left to a final target ...like the 1190 u mentioned then they really have no good place for stops..if you are 3 points away do u use a 3 point stop..? a one point stop to make the risk reward ok ? Always tricky on final targets........

this is why I have never seen anybody hold for those longer term moves without taking pieces off on the way up or down and even so I always see the results after the trade is over.....it gets clumped into the "Fun" category...that is why I have busted my hump for years posting my trades with logic and exits as they happen...

I also usually just suck on final runners...I do best when I toss in my order and don't look at the screen when working those last one or two contracts..and even then sometimes it just seems lucky and without solid trade manangement risk that I can define well
well that was fun
upper singles filled
I do understand explicitly what Ur talking about! If people where able to take $50.00 out the trend today. Is good!, If they are able to take $100.00, great! If they are able to take $400, awesome! And if other people trade it right from the opening gap above the Daily trend line and got out at 1187.00. wow I don't know what to say.

If you have 3 points to go to your objective 1190, the market then is at 1187. Do wherever you want! There's no particular formula. Sacrifice one to get three. Ah, push the bottom get out with wherever you got! When I'm in he middle of the battle, think fast and execute.

I usually share info. I'm not interested in what other people are doing or how they trade. However, I'm very much interested in a person's perspective.
There's no right or wrongs here. We are all learning while in this planet earth. Once you are under 6 feet of dirt, who cares? That's why I like to have fun, no matter what I choose to do!


Originally posted by BruceM

for those that took that short we all know we are suppose to look to sell above the bell curves on the highs and buy below...now when we are only 2 tics away from the 1187.50 number I mentioned and you found for yourselves then it is in your best interests to look for the short side...

just pointing that out as I was not here to trade it but the bell curve did what it is suppose to do...find resistance and then try for the middle at 1182.50....perfect structure...


you bring up a good point Sand...when folks have only 3 points left to a final target ...like the 1190 u mentioned then they really have no good place for stops..if you are 3 points away do u use a 3 point stop..? a one point stop to make the risk reward ok ? Always tricky on final targets........

this is why I have never seen anybody hold for those longer term moves without taking pieces off on the way up or down and even so I always see the results after the trade is over.....it gets clumped into the "Fun" category...that is why I have busted my hump for years posting my trades with logic and exits as they happen...

I also usually just suck on final runners...I do best when I toss in my order and don't look at the screen when working those last one or two contracts..and even then sometimes it just seems lucky and without solid trade manangement risk that I can define well
I'm not trying to ram this down anyones throats but this is a subtle distinction that should not be overlooked. We have a lot of great minds that contribute and lurk here. So I always assume that nobody is taking ideas and real trades without following them for a while and making them there own.

You will find over time that this IDEA has very high odds of being revisited on the same day. We have two sets at least of different traders focusing on the same area...those who trade for retests of low volume blow throughs from previous days and those who trade for single prints to fill in from the current day...

Last week we had only one failure using this idea and that was when we had that late day rally that blew through the 1107 area and the 1110 area. We did come back to test the 1110 but not 1107. So late day rallies increase the odds of trends...we know this but todays area formed early. We had loads of low volume trades that worked so we will let them have that late day rally last week...

The point is that those longer term players may want to "see" just how often this retest happens as it would have helped them lock in profits earlier. Others will find additional ways to incorporate the low volume ideas into their toolbox.

Not tooting my own horn but trying to give something of use to the forum today. The smart traders will get creative and not just look for the standard entries.....and of course if you fiqure out some new fangled twist then I would hope you will pay it forward to a forum that works hard to help others.

Originally posted by BruceM

this is usually a high probability retest when we get low volume from today forming at a low volume area from a previous day.
Della, pre-emptying your question, these convultions are happeneing on very low volume
well my additional point Sand is that it is my experience that those using projections never address the failed targets when in my opinion those failures should provide greater feedback.

Most want to be the hero and not the ZERO !!so they just forget about targets that never hit or they give the old "If then else" statement...

like "1200 will be the target unless 1170 prints" or something like that...useless stuff to me especially if traders cannot follow any logic on their own...

These day trading threads were founded on the "teach a man to fish " attitude so folks shouldn't post stuff unless they are willing to back it up....

In my book " secret receipies" are not tolerated well and that is a huge turnoff.....for anyone reading , please keep your secret formulas - secret....if we need secrets we'll go to paltalk and all the other paper traders....

I am arrogant when it comes to certain types of posts....I've seen them all and know who is really in this and those who are just posting for ego stroking alone....

I'll leave you all with this today




I own a drumstick from that drummer...LOL
I mean cummulative volume may be decent, but trades are on small volume, so maybe a program triggered
Ditto here. I've seriously tried to understand and distill down what/why/how with your postings over time ... when you were active in the past and also currently. I'm at a loss - even now. It's primarily just numbers posted without any conveyed, understandable rationale for actual learning or trading as a day (or days) unfold.

More significantly, it's so much "if then," where the IF and THEN are not described in a way that fills the space between the prognostications ... and when price does (and also DOESN'T) reach one of the multiple levels posted. In a word, it's "confusing."