ES Tuesday 7-30-13

the numbers haven't changed much so still using


84.50 and the critical 82.50

1 I think the best sell fades will come if we open higher ( like we are set to do as overnight has rallied) and attempt to get up into the 1688.75 - 90 zone...then use the 86.50 as a first target

the magnet price seems to be 84.50 so far for today... I like the idea to try and trade back to will be a matter of finding a good area to trade from for that target

If they open 5 points higher than yesterdays close then I will look to the 1/2 gap for confluence

2 if we don't push up first in the day session then I will most likely look to buy the first test into the 84.50...

I have a feeling some may try to buy the 86.50 if we open between 1690 and 86.50 and drop down to it...I'm gonna stand aside on that idea 3 ( optional idea)

my basic plans are numbered and in bold....number 3 is's after 9 a.m so I may see if anything good develops now

a somewhat crude chart but it doesn't show the 88.75 - 90 zone..sorry
Click image for original size
we know yesterday was an inside day...often you will see an open outside the inside day then a trade back down into it and THEN they bring it back out of the same side they entered it from.....

if that happens then I would be careful on fading once we get back outside the inside days range...that could be the true breakout..

also in the back on my mind is the fact that we don't often form inside weeks far monday is obviously inside the range of last week...

the bottom line is to be more paranoid of a possible breakout today...reports at 10
approaching that 88.75 area.....sell area

1/2 gap falls at about 84.50 today even though less than 5 points on gap
oh man...they are listening well this week !!

don't be greedy past 84.50......just my advice...
if we start trading above and hold yesterdays RTH highs then it becomes higher risk to fade anything IMHO......I think we'd be best to be satisifed with the one trade and go play !

it can be hard to be satisfied as greed takes over.....either way trade small enough to not give back much of your gains this a.m.

report coming so this is just gambling if you are still trying for full gap fill...hope it goes YOUR way
thanks for the votes today's always nice to be appreciated. I know the thread get lots of hits and sometimes it's just a hassle to click the vote button......guilty of that a big hearty thanks

I'm not sure if it will happen still but they did what they often do with inside / low range days......the bigger players seem to drive the market back inside the low range/inside days range during the RTH time frame just so they can get on board for a valid's as if they feel cheated when it gaps open away from the range without them involved..

just my theory and obviously anything can happen...and does !!

I think that 86.50 holds the key for those trying to drive higher. The hour range is complete so lets see if they can range extend.

doing nothing right now but will watch if theY come out the highs back into that 88 - 90 area...there is no edge in the middle of the rth RANGE RIGHT NOW
77.50 -79 is an additional line of support today if anyone is playing now.....82.50 would be resitance if they can rally off of here
if you think u caught the long I would be thinking about targeting 80.75 instead of hoping for that 82.50... at least take something off at the 80.75...I'm not overly confident in this so far
damn these ranges are so tight and having lines every 2.5 points does not leave us much room...I'm hoping the specific price of 79.25 doesn't turn this back down for a test of the current lows...
stopped...good entry but that 79.25 was a concern and rightfully so ..trying one last time...keeping it tight,,,gotta resolve that 79.25.....being quicker to take SOMETHING off faster
took last off at 81 even...small campaign but a good one..they may still try to push to the 82.50 but I have no ammo...

no more trading for me today...hope all do well from here