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ES Thursday 3-8-12


here is how my low volume numbers look on the down side. Above these I would be using 72 and 77 . Not shown. most interesting area is the BAND of low volume at 53.50 - 57.50.

We have a weekly open and weekly pivot at 1366. We have a daily r1 level at 56. Virgin VWAP at 69.25, 62.25, 50 and 44 ! Using March at least until noon
Click image for original size
numbers


Once we get the 8:30 reports out of the way we can dial it down and as RTH opens we will have the completed O/N range to verify our numbers.
Originally posted by vasuki

Jedi, got long Cl at 106.10 and out 107.
what time frame do you trade off for Cl as it it can be very choppy?


I trade CL the same way as ES with some variations but I use the daily/60/15/5/1min chart as well as some MP, but MP works much better on ES
Thanks for your input Jedi
Jedi I posted the vote down. Inputting ideas and levels prior is great. I dont need to see after the fact winning trades posted. I learned nothing by them.
Originally posted by rburns

Jedi I posted the vote down. Inputting ideas and levels prior is great. I dont need to see after the fact winning trades posted. I learned nothing by them.


Rburns,
I didn't trade ES today at all today.. I'm not posting any trades but just gave you my approach.. I can't explain it with any more details than that.. Remember, this stuff took me a long time to learn so it cannot be summarized in a post.. but the general idea is there at your disposal.. I did the best I can and felt it was a generous post.. Play around with it and tailor it to your own method.. If it doesn't work for you, abandon it.. I generally don't post much but do follow the thread in between trades as I respect Bruce's work as it has helped me with my trading.. Although I don't trade like him, his concepts helps me.. I mainly posted to help faders avoid getting caught in trends which was my forte..
The deadline for being part of the bond sway is at 1 pm CST while the official announcement is scheduled for midnight tonight. Rumors are flying that 75% has been reached. How many rumors have been true from Greece lately
right now, again you see delta selling this off while price is advancing with bullish ADD/VOLD suggesting 65 to be taken out to the upside. However, VOL is low but this can change, hence I would pass on shorting this bell curve unless that pattern changes..
I turned charter joe onto the $vold a few years ago but I never followed through with studying it myself. Here is that link:

http://www.mypivots.com/board/topic/4227/1/vold

Jedi ...what would it take to convince you to post some charts either here or in the $vold thread with your understanding of the internals ? I know it is asking a lot but would probably be really helpful.

It seems that we can come up with certain combinations of the $vold, $ticks, ADD and CD that could help support buying at support or selling at resistance especially after they get the early morning range tests out of the way. Just a thought.

Even a new thread would be cool or on these day trading threads. Whatever works for ya. I think I speak for many when I say that understanding and applying internals is an art. I'm always interested in them even if they allude me.


I know some may snark at this but I meant to put up a here to buy IB, but was on the phone with another trader discussing CL.. My reasoning is on the chart.. basically, heavily oversold into a level with bullish VOLD/ADD formations.. further confirmations came from volume..
well this 66 - 68 makes us perk up a bit. Congrats to anyone who was holding long from below. I'd like to "see" u longs start to exit so us faders get get something done up here




Here's another view - why price was expected to go further... All the information is there when it comes, just take a little while to get a hang of it, like anything else..
Thanks Jedi.