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ES Thursday 9-6-12


lots of quick babble but my basic plan is to be short if we open above the 1409 high first using the 1411.50 - 1412.50 to initiate from...watching last weeks highs and 1416.50 carefully if they push out the O/N high
No video below? Try this link: numbers.swf








starting small shorts at 1412.50 in O/N session....high risk and safer to wait for day session
85% ( my estimate)of the time over the past 6 months we return to the peak volume of one of the first two 30 minute bars......whichever has the most vertical volume...but trend days we fail......

if we stop trending...ha !! then we will see 1418 again before the days end
hope u r right Bruce !

Originally posted by BruceM

85% ( my estimate)of the time over the past 6 months we return to the peak volume of one of the first two 30 minute bars......whichever has the most vertical volume...but trend days we fail......

if we stop trending...ha !! then we will see 1418 again before the days end
there, tested...25-26 is a short area for me, then 28.5-30

Originally posted by NickP

if they turn the 21ish low volume into support then year highs will likely be tested
took second loser for today at 24 even...starting shorts again at 26.50....hard stop at 29.50 just in case...last try for today


targeting hour highs
short at 26.75, will add in the other area i mentioned before if necessary, 24.75 first target
took the loss at 27.5 (-0.75)...trying again from 28.5-30.5

Originally posted by NickP

short at 26.75, will add in the other area i mentioned before if necessary, 24.75 first target
sure would like to see price get under that volume at 26.25..!


what is a 5 letter word that means loser ??

BRUCE


2 more ticks to 29.50 and then I'll be wrong and closing closing up for the day
this mornings video and trading is a great example of how you can put in a lot of effort, come up with your areas, know your probabilities (like my comments on testing the 1409 which hasn't happened yet ) and still just be flat out wrong and lose money trading.

so if we don't get the hour high test and the 29.50 prints then it will be a net losing day.

buyers are smarter and stronger than me today....I suck it up and move on.....luckily I'm busting my kids out of school tomorrow and taking a 3 day vacation so hope all do well from here
all right, trying again from 28.75, 26.25 first target...i know 30.5 is realistic so ready to add there but no more adds after that (and tight stop above it)...

so far 2 winners 1 small loser...if the current one turns into a loss it will flatten me out for the day, but worth the risk given how overextended we are

no test of a previous low in the 15m chart since the open...needless to say we have multiple single prints in the 30m chart as well
good eyes Nick ..was just about to say that about the two sets of singles...

i have bad trade location and if I added above I would target my entry which happens to be at that mini volume node near 26.25 - 26.50...like you....hope it all works out
stopped out at 29.75...that was a long time to hold for nothing !!!