ES Tuesday 8-13-13

Magnet price for me is still going to be that 89.50.....
resistance points are 92 and then the bigger zone at 94.50 - 95.50


support point is 85.50 - 87....and 81 - 82


I usually don't expect open and drive days two days in a row so I think we will see multiple trades through the open print this morrning


Ideal for me will be to see them push up into the 92 area and then lose steam to revert back to our 89.50...

we'll see...report at 10 today..here is the crude chart

This is a TEST of some code I wrote
THIS IS JUST A TEST... DO NOT REFERENCE THESE NUMBERS UNTIL I HAVE CHECKED VALUES.

THIS IS A TEST
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ESU13...............TRADE DAY: TUESDAY, 8/13/2013
GAPS Measured to 4:15pm Settlement

Today GAP UP was 2.25 points.

GAP FILL = print of 1687.25

Half Gap Fill = print of 1688.38

1/2 EXT UP = 1690.63

FULL EXT UP = 1689.50

Gap Traders often risk a move of half the gap away from the Open
and still hold short for the full gap fill.
Half Gap extension (pressuring the shorts) means watch 1690.63
for signs of BUY STOPS being Hit.
Some Gap Traders will risk FULL gap extension before buying to exit short.
That means BUY STOPS could be triggered ABOVE 1689.50




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THIS IS A TEST to see if I can use the CLOSE of the overnight session as the OPEN for the RTH and some of the measures Bruce likes to use.
Many times, the close of the overnight session is exactly = to the open of the RTH, but prices can vary by 0.25 pts. However, I do not think that a variance like that is significant.

I have problems with that code do not reference those numbers above

the open print is right at our magnet price...I think this increases the odds of us going back and forth through the open print this morning...so that is part of my trade idea

for me I need us to be 2 points or more from open print before trying the and looking for a fade signal......hopefully we won't go back though the open too many times before that happens

UPDATED CODE (The original still took almost 45 seconds from the open to actually up on the mypivots screen.

and... the actual Open of the RTH was 89.25 versus trying to use the close of the overnight which was 89.50... But will single tick variance really mean anything?



ESU13...............TRADE DAY: TUESDAY, 8/13/2013
GAPS Measured to 4:15pm Settlement

Today GAP UP was 2.25 points.

GAP FILL = print of 1687.25

Half Gap Fill = print of 1688.38

1/2 EXT UP = 1690.63

FULL EXT UP = 1691.75

Gap Traders often risk a move of half the gap away from the Open
and still hold short for the full gap fill.
Half Gap extension (pressuring the shorts) means watch 1690.63
for signs of BUY STOPS being Hit.
Some Gap Traders will risk FULL gap extension before buying to exit short.
That means BUY STOPS could be triggered ABOVE 1691.75

No warranties implied or expressed.
Trading futures is risky.
Objects in mirror may appear smaller than they are.
Stop tracking mud across my nice clean floors.

i'm starting my hunt under 87 now...the begining of my first zone and under the On low

expecting at least three - five minute bars through the open here this morning

always the challenge is knowing that reports are coming and you haven't hit target yet..I still like that 85.50 - 87 zone though

second try for me is starting at 85.50....report is coming so lighter.....got stopped at entry on first try..first target now will be 87.50....high risk with report coming

revising target to 87.25 first....watching close down here...I know that 81 - 82 zone is below

expecting a 92 retest from up in the 94.50 area