ES Thursday 8-30-12

Watching 1402.50 - 1403.50 up here...critical for bulls to take that over if the buyers off the second single print from 8-24 are to win today

Paul, when you look at your chart you can see the big volume areas and when price trades through to the other side they often come back for the retest...one of the reasons I was long earlier...I thought they would try to test that 1403 area once they opens below it....


so the same is true with this 1397.50....we broke through it but then came back up to test it from below...same concept applies..just pointing that out

just covered one at 98 even....just too close....and seems to be stalling


damn this IB data sucks for any kind of chart posting and the bid ask work...just real crap !!

thanks for the explanation.
understanding those little counter moves is a pathway to profits.

Here's an update of that chart I had trouble posting yesterday.
I don't know whether the current L will be the LOD, but if there are bulls still active, they should defend that 95.25.

The One Tick Takeout ran full circle

covered last at 99.25...that was a lucky run to that number I think...low volue at 98.25 needs to hold any decline to rally furher without me

97.50 thought helpedme for a quick scalpe... TY. Break 97.25 to downside and could see 93ish, IB extention to 92 Psycho at 1400 held for now. just thought to contribute my humble visions

I could be wrong but these low volume areas between 1397.50 and 1400 need to be filled in and as long as we stay above the IB low that will happen....

so I'd be real careful shorting near 97.50....seems safer to buy in there....

gotta run so good luck to those who stay and play

Point well taken...buyer would definitely have given up for 92 to be seen
!