ES discussion, week of 8/26/09-8/28/09

Futures almost 7 points off their low, and looking strong. Let the GLOBEX games begin...

Great day so far for discussion, and not one post...

Did everyone see this ABCD at a .447 that is giving this nice push down here?

here was a clue. notice the price action along the lines.

I could've posted this in advance but was too busy focusing on the live action and my trading but this shows how one can build a 'feel' for things with price action.Not a trading setup in itself though.

the 12:30 high was area for ABCD pullback.

another clue.

the line interaction is nice .the abcd ride was nice.
time to switch side? well, I need a setup.

See, that's the thing that takes people a long time to grasp. There are clean setups, and then there are things from the methodology, like 'partial setups', where we watch and see what it does, to get clues. Then we use those clues to assist our 'context' assessment to decide which setups are the highest probability, hence screening for what we hope are the best ones from all our potential choices.

exactly

and here was the setup to go long intraday.

That's as close to realtime as i can get

the pop was short-lived and reacted when it hit the ML.

echo.....