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ES Thursday 8-22-13


Magnet price for me today is 40.50 but I don't have a great read of the market yet...


I know that 44 and 46.25 are the first key numbers....I know we have a gap up of 8 points if we opened now...we also have the major resistance at 48.50...

see where your 1/4 and 1/2 gap numbers fall today ....for confluence

My plan is to see them get two points up and away from 44.25 to look for sells first...then use the 44 as a first magnet price..with 40.50 as the major magnet price..

we do not want to see them get above the 46 number and have that turn into support that will be bad for us short bias traders..we can sell the 48 number if it gets up there and us the 46 as a target too

if we open under 1644 I will sell a rally up to it knowing that the better sells are up at 46.25


I will watch 37.50 for possible support if it get s that low
...34.50 is another key number today too


my concern is that yesterday was just a big fake out


some will be using the 44 - 46 as a zone and a bull / bear "SWITCH" to provide them a bias...long above it and short below

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thursday
last couple got hit at 51.25

have a good one folks
that long from taht vwap/mid area starting to look good...watching from the sidelines here
today we got the delay but we weren't denied...here is a follow up to the chart on page one...same lines different time frame....

keeping the losses small is critical before we get the one that works on days that make us faders work harder
Click image for original size
followup
trouble so far holding outside the IB high and our upper zone....meant to put that in last post !!