Price Action

[sanchez 10]

Yeah I know what you mean, I trade the same way, a video is the easiest thing I can think of to really show the way you trade, but if you aren't sure how to do it then might as well just keep doing what you're doing if you think charts will be useless as well. Most platforms have a feature that shows what trades you took though, which is what I thought would be useful.

 

Anyway, looking forward to your trading.

 

I don't think showing charts are useless I was just trying to post in real time. Anyone can post after the fact....thats really all I was eluding to. I have camtasia but I've never used it, lol. The problem as I see it with a video is that the PA needs to be recorded real time in order to get the full meaning of what I'm looking at...imo

Lets see how this go....we can always try something diff.

[sanchez 10]

Hey Erie,

What do those levels represent? Are they levels you are looking for to go Long/short?

[erierambler 10]

Hey Erie,

What do those levels represent? Are they levels you are looking for to go Long/short?

 

Those are potential targets for a short if I get one

 

erie

[sanchez 10]

No news today. pre mkt vol is decent so far at 260k

 

94.5 area has hi vol on a composite basis...it is also the highest vol in the O/N session which is no surprise

1102.5, 1104.5-1106, 1109-1112.5 & 1117 for now on the upside

 

1091, 1088.25-1086.25, 1083, 1078, 1074 for now on the downside

 

we have gaps at 1099.75 & 1105.25

 

It will be interesting to see if the 97 area holds or they push to fill the gap. Last Thus and Fri we rallied on low vol. Low vol was expected to to rollover. I will be looking for vol to get back to normal by Tues.

 

Lets see what type of open we have and what tone is set for the AM

[sanchez 10]

wow....what an exciting open!!

[sanchez 10]

ES................short 95.5

[sanchez 10]

covered 1/2 pos at 94.5 but no fill yet at 93.5

[sanchez 10]

+2 covered 93.5 on 1/4 pos looking for 91.25 next

[sanchez 10]

PA right now will dictate whether or not I bail on this trade....watching 94.5 area & how it trades there...if it trades there

 

Gap below at 1085

[sanchez 10]

watching the PA at 92.75 as well

[sanchez 10]

I am letting this trade breath a bit because I'm not yet convinced at the PA in the 94.5 area.

if I had no profit yet in this trade I would not be as liberal. We did have an open gap and have trended higher the past few days

[sanchez 10]

still looking for 91.25....the PA at the test of the LOD will be interesting

[sanchez 10]

covered some more at 92....did not like what I saw on the retest of LOD....12.5% of my position remaining

[sanchez 10]

stopped out at 93 on the balance of the position....flat now

 

I hope that description made some sense even tho I didn't post a chart

[sanchez 10]

notice anything yet?? price seems to be winding around the 94.5 area. Traders seem to think of it as fair value for the time being.. Looking for clues as to the next direction

[sanchez 10]

ES L @ 95.5. potential tgt 99.25...just in front of the gap. I will be looking to scale out at +1 point on 1/2 position as usual

[sanchez 10]

97.5 is 2nd tgt...................

[sanchez 10]

watching PA in the 95.75 area for clues ...open price

Edited June 14, 2010 by sanchez

[sanchez 10]

stopped out at -1.....BE for the trade

 

Correction....my stop was on auto trail and it moved in to 94.75 to help cover comish so the result of the trade is +1 pt on 1/2 positions and -3 tix on the balance so it is a true BE trade, after comish

Edited June 14, 2010 by sanchez

[sanchez 10]

as I mentioned this AM, I'll be looking for the vol to normalize by Tues......hopefully at this point Vol is already better than fri at this point in the session but still quite low

[sanchez 10]

I'm still watching the gap at 99.75 but this is not the type of PA and vol that makes me eager to trade

[erierambler 10]

here is a picture of price this morn

 

erie

[sanchez 10]

gap filled at 99.75.................1105.25 gap above that

[sanchez 10]

watching PA at the 99-1100 area for a poss short......lunch time so being cautious

[sanchez 10]

ES short at 99..........