ES 03-22-2011

O/N Profile.

exited @ 1289.50

got 4 points. Thanks for the guidance.

Originally posted by raj1301

exited @ 1289.50

got 4 points. Thanks for the guidance.

Welcome and great trade!.. now looking like it wants to rebound to at least 1292.75... but i'll likely watch for a while.. got 7 handles and want to keep it@!

$ticks could not make new lows on that push down......we are still inside YD range " Jack be nimble...jack be quick.....


nice air fill ...that i missed

I should point out,fwiw, that 1296.50 resistance we have been fighting yesterday, and today, is both the 20 day sma (1296.75) and 50 day sma (1296.50) on the daily charts.

nice little classic volume divergence off that 88.75 volume..upper target would be that gap at 91.25....Later I'd like to see some signs of acceptance and volume below the O/N low and that 88.75....then we should be well on our way to 84 and 81 and very soon

conflicted here....one of my least favorite targest is the gap in data at 91.25....

flat at 91 print...just too close for this...

I didn't post as I enetered this long...you'll have to look at your one minute volume.....and we entered a key zone..which was the opening one minute bar for the week of RTH....but it's there with $tick diverging


I like to get out at MOST a tick ahead of gaps in data...they have tortured me the most on runner contracts and I really do hate them as targets for the most part

i guess i'll try a short at 1292.75 if it gets there, but one only!...

Its also the median line on the 13 min chart...

91.50 was the perfect test of days midrange...many will try to sell above there after one side of the IB gets broken....this is also the OR range....so those shorting would not want to see trade above the OR highs now....

I'm just pointing this out and not taking the trade....being stuck inside the IB and the previous days range is not a prefered area for me to initiate.

Originally posted by koolblue

once again caution is the watchword! as the charts are mildly negative,but we just had nice pos. divergencies at the last low!...

Click image for original size

bingo!(within one tick... this is the important dividing line imho!... if 1283 doesnt hold then down we go, otherwise bulls still have hope here!