ES Short Term Trading 7-28-2010

Range Based S/R for July 28, 2010

R1 = 1122
S1 = 1102.75
R2 = 1125.125
S2 = 1099.625

Actually, last 3 days had a 'coontracted' daily range ! (counting today).. VERY RARE TO GET 4!!!!

I am leaning short side but 5 min having tough time closing below YL 1106

ledge tryingto form at the 05 low!!

Patience!

Notice each time prices have come back to VWAP they have been rejected. Still the low volume hasn't been able to sustain much of a concerted move down either. If volume suddenly enters the market I think a large move could take place.

if yoiu are short you don't weant to see this down OVB on 30 minute close at highs and reverse the Down OVB to upside...ledge got busted on that OVB formation

Bingo! 1004.00 first pause point.. see chart at 13:36 today

next ..1002.25? a good bounce then 98.50?...who knows... buying (one only) at 1002.25

Ascending black line target hit.

@!#@!$!@#$ ..ONE TICKED ME!!!

Originally posted by day trading

Originally posted by hari

Some of you may have been trading for more than a decade, what is the smallest daily range you remember seeing in ES (RTH)?
The range today ( so far ) is only 8 points.

If I remember correctly it was something like 3.25 points and it was the day before Thanksgiving Day.

Thanks DT.