ES Thursday 9-22-11

It's always after the Fed. where the good trades unfold. The 1169 extreme support and objective posted this morning got blown away and the ES close 14 points lower at 1155.75.

Tomorrow I will be looking at the following numbers for trading set-ups.

For the outside: I will look for the market to move above 1156.25 and use it as a "platform" or support for my next objective at 1169.50. Overcoming 1169.50, then, that will be my next support to work from for 1179.00 objective. Overcoming 1179 will set the stage for 1186 objective.

For the down side: I will look for the market to move below 1151.75. Then use 1151.75 as a ceiling for my next down side objective at 1143. Below 1143 will be 1132 as next objective. If the ES moves down to 1132, It's possible that will extend to as low as 1123 looking for support. -- 1123.50 is also Sep. 12 low.

In a nutshell here are the numbers for tomorrows session. The bold numbers are important S/Rs. the others are minor s/r. If you find congruency between the numbers posted below and the ones you got, and the market is trending in that direction, then it's most likely the market will hit it.

For Sep. 22.. Thursday

Buy above 1156.25
with 1160.50 / 1165 / 1169 / 1179 / 1186
Extreme 1194
as outside resistance and objectives.

Sell below 1151.75
with 1147 1143 / 1139 / 1132 /
Extreme 1123 / 1113
as downside support and objectives.

As always, the market has the last word and in due time will show us the way.
I see for you the same I see for my self: having the very best of luck and a fun, profitable trading day!
BTW-all the best trading lessons usually come free from other traders.. everytime I paid to learn, it was always crap..ha
Great insight on the market guys. Been checking in here for a bit. Trying to get back into trading after beeing out for a few years. Anyone here been in JP's room?
Who's that? do you have to pay?

Can 1120 hold and be bought back into 23.50, if it can I'll likely try again @24
He teaches market profile. I was in it about 10 years ago. Got out of his live room, as there was too much chatter.
To be honest, I've yet to find a good teacher that can trade well and I've tried a couple in the past.. unless I can see them make $$ consistently, usually you're better off taking the tuition fee and open a live account and just trade with it after you learn some good concepts.. paper trade first until show some consistency using that method.. I heard MP works well so I'm here trying to learn more about it but if someone wants to charge me $5000.00 & etc to teach me how to do it, that's prob how he's making all his $$..
looks like 17-20 is the new S/R zone & pivot range.. for me, longs remain above 23.50 and shorts are out of the question today..
Tradezilla, we will hold you to that statement
just kidding, man
this is a lunch hour, not a good time to be active - have some lunch
bottom of several levels and overextended, I've never been good with trading with the trend into these areas.. trend trading is when the market moves off of its extremes and trading the pullbacks.. so who is bold enough to short the rallies here?
Thank you from me too Bruce!