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ES short term trading 5-6-10

Most of these are being generated from the weekly chart..

57.50 - O/N low , yesterdays afternoon rally point

62-64 - LTP in ON, VA low,PP and POCP

70 - all that volume and VA high

75 - 77 air pocket and R1 ...Magnet ******

85 - 87.50 air pocket and r2

94 - 98 combination of LTP's and HTP

****Gap at 66.25 in O/N data so those reading get short up here at 68.50...most still sleeping so you'll miss this one
trading for the trips at 47.50 off of 43..25
showing -1500 tick with that low at 42.50
Well , bingo!!! i tied to show this area all morning! Now i'll just play this for my usual short term scalp , but this COULD be a very important low! At least it has that potential! Calls here would be a good risk-reward. long 2 ..avg price 1143.25
minus 1600 out...dangerous fade fo rthose triples
added at 41.50 but will not add again...
Maybe i should have listened to you Bruce! my stop is at 1140.25 ,since i believe an overshoot to 41.50 is possible!
Originally posted by ak1

Originally posted by ChnDragun

Thanks feng...

huge mistake fighting the tape.

Take heart, we all are their for you, place a long at 1144.50 with a 4 pt prfit and a 4 pt loss then walk away and clear your head

kb my SL is at 1140.50. Lets see
Now imho, the close becomes important . Since the vix has closed above its boll. band 2 days now, if it closes back inside the band, that is a very reliable daily buy signal.
ugh! stopped out at 1140.25.. now up only one handle on the day...
Nothing like giving it all back!
small loss due to mismangement of this trade.....don't lik ethese grinds lower with Tick in the gutter...
The real cause(?) for the market crash on May 06, 2010...

Read at Reuters..."Exclusive: Waddell is mystery trader in market plunge"
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