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ES Monday 10-15-12


1427 - 1429 is key resistance for me depending on where we open


a drop down from above will look at 1423 - 1424 for support first

then below is 1419.50 - 1420 *** last weeks low

above the 1429 is 1432 - 1433


the 23 - 24 is the magnet price if these current O/N lows and highs hold *****

good luck today !
I'm thinking that twice the IB has traded and if we can give up on this 32 volume they will go back for 29.50 and even possibly back to 23 - 24....the problem in here is that they are trying to digest that evil 32 from last week and it is a low volume spot so we may consolidate and a see a VPOC shift up in here ...hope not

new highs bump right into an old vpoc at 1435.25 but I am more interested to see what happens if they push up into 1437.50 to fade that ..now if we can only find a signal..I plan on missing any long signals but will take shorts up here near 32...I won't fade the new high but will fade up into that 37.50 if it comes

so a long story short is I am hunting shorts up here at 32, will stand back from longs and will also look for fades near 37.50 if I am wrong here now
no good clue here..it's either gonna be the 32.75 retest or they will try for 26.50...I missed that volume in last post
this seems like a weak rally and vpoc is now at 32.75...just seems like bulls are struggling still
double break of the ib today so it seems we will finish right at the top today (too late for a comeback tot eh mid point of the day)
Originally posted by NickP

double break of the ib today so it seems we will finish right at the top today (too late for a comeback tot eh mid point of the day)


One of my favorite trades. When "c" period breaks out IB but can't hold, take break of "c" the other way. 1st target the other end of the IB while trying to hold for a much bigger mover.

Combines a lot of things for me, price action and momentum.

Good luck to all.
great tip, thx big mike
Big Mike: Any chance you can show that on chart image?
Originally posted by day trading

Big Mike: Any chance you can show that on chart image?


This is RTH on YM for yesterday.


Click image for original size
ib
Thanks for the chart, Big Mike.
A picture's worth a thousand words.
Agreed - thanks Big Mike.