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ES Thursday 9-29-16


Messing with my TOS charts tonight...here is the basics of how I see it....as usual I will revise and check MP charts with overnight action in the morning


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forthursday



I think it's best to use the areas that have the most confluence...to me that is the 57.50 - 58.5, the 53 - 54 and the 48.50 - 49.50...here is another view..with the time histogram on the one minute included

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confluence
what on earth just happened??
a whole bunch of buyers just came in..lol sorry couldnt resisted..there was big 700 lot buy at 61.75..now there big 700 sell at 64.25 and 298 at 64.75
runners got stopped...ego in the way here....gonna break discipline and try one last short from 64- 65 area and keep a close stop...this is it though....I'm concerned that all us shorts will bail and then a quick drive up to r1 happens....filling that 66.50 gap on the way
a look at the triples


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triples
yeah, newkid...now poor highs and poor lows...equals poor trade !!
this means it is the very short term traders yanking us around. lack of direction here is maddenning

Originally posted by BruceM

yeah, newkid...now poor highs and poor lows...equals poor trade !!
yeah i deserved that for making a patently stupid comment. i should know better :)

Originally posted by duck

a whole bunch of buyers just came in..lol sorry couldnt resisted..there was big 700 lot buy at 61.75..now there big 700 sell at 64.25 and 298 at 64.75
i would like to see it trade up to the rat at 68.75 then down to take out those triple 3-5 min bar..

big lot sale at 64.25 got it one point. i didnt trade it..
yeah...just the fact that they can monkey around yesterdays highs tells us also that short term traders are goofing around.....that is of course until somebody just steps up and puts the pedal down on a big buy or sell order.....these kinds of conditions may lead to us seeing the gap at 66.50 and the gap at 59 filled.......I'd like to see the 59 first......I have calls on as a hedge but that is in case the 66.50 prints first......and plan to hold those even if the 59 prints first


so I am a buyer with calls and a seller with ES........crazy stuff for me......only about twenty minutes left....
do you have calls on ES or SPX/SPY?
I thought this was interesting as usual - it drives home the concept of how often high time prices get retested when the market just passes through them as if they aren't there......so for those that trade more often you can look for trades AT the high time areas but if you don't get signals and volume clues then you can look at other areas and use the high time areas as Targets...so the moral of the story is this - Most times high time areas that get blown through sees price come back to retest those areas...

here is todays EOD chart with only the 3 high time areas I mention last night on the chart.....


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retests