ES short term trading 1-28-11

If you refer to yesterdays 9:16 post showing the projection off of the low, and the 9:36 post also i refer to the 1298.50 level.. it should come as no surprise that once again we just made a marginal new high at 1298.50 .. currently short from 1298.25 trying for 1295.50.... beyond that,my analysis of the last few days and weeks APPEARS TO BE IN FORCE, SO I WONT RE- HASH IT TODAY. The upper channel line i showed yesterday looks to be around 1301.50 currently. Still looking for sideways to up thru tues next week!
weekly open in 79 - 78 we may see a bit of a rest...
I'LL LIKELY TAKE ONE OFF AS CLOSE TO THE 5 MIN PRC MEDIAN LINE (1282.75) AS POSSIBLE .. one min is 1283.00...only up 2 handles, so i have to be careful here!
2 point stop hit... loss of 4 total..ugh.. now down 2 on the day!... watching for re-entry long!
last try... buying 1274.50
just not convinced this is the final flush bar but the fact that they didn't get that noon close BELOW the weekly low may be good for those agressive enough to take a long in here.......preferable take the long below the huge volume bar low

I'm just watching now..Nq's down 61 points I'm personally not fading or trading now...and good luck if you are!
beyond that looms 1268.75 or so
that last fully completed 30 minute bar was the highest volume bar of the day and after a trend that often will signal the pause at those who hit the buys under the 76 low seem to have a good trade....

Lets hope it keeps going for ya kool....I was chicken!!
Hey Kool,

Something I notice on days like this, when prices seem to hit the 4.236 projections in a certain direction over and over gives added weight to being patient for the proper zone...

Any thoughts?

Originally posted by koolblue

beyond that looms 1268.75 or so

Click image for original size
Unfortunately I am Lorn...between The vibrations of my snow blower and the beatings I take sledding and learning that dang snow board...

Originally posted by Lorn


Having wrist problems again Bruce?

Originally posted by BruceM

weekly pivot at 82 ....and weekly open below that near 79...too hard to typwe now

A PICTURE IS WORTH A THOUSAND WORDS...I thought your chart looked "clean"..thanks for posting it