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TUES - 12-07-2010 - (DAY SESSION PART 1) GAP/FIRST MOVE/FIRST RETRACE - With caution to the upside after a large gap up with wide overnight price action, a fade the gap price-volume sell develops at 8:45 as price makes its first move of the day down which turns the trading trend down "with...

TUES - 12-07-2010 (OVERNIGHT - OPEN) MACRO - On the daily charts, this is was the ES's second chance to break out of the 1200-1050 bracket on the way to the 1280 area. With strong overnight up action it looks like this breakout is official and we are headed to the 1280 area, with the 1224...

jjf I'm right with you in the sense I dont (nor can't) predict anything. I certainly have my expecations based on on the way price reacts at certain levels, and how this reaction fits in with the type of intra-day structure that is forming. So I was on the same side of slightly north...

MON - 12-06-2010 - (DAY SESSION PART 2) SUMMARY - After price retraced from 1224 at 9:30 E=MC2 chop and patient chop trading set in. No price/volume counter-trend short set ups developed off 1224 resistance, and price never could take out the inter-day lows at 1220 to turn the trading trend...

Ok gotcha....Just so there's no further surprises..... not every trade I enter ends up winning......

All I said is that Im monitoring 1224-1216, and a very early sell set up at 1220.25 that resulted in a small loss.... I never mentioned rigid support, or 21.25, or anything that digs some type of hole? I dont know what to say if this isn't clear enough...

I've never discussed 21.25 with respect to anything I am looking for, or looking to do.......

Depending on the way things set up I dont always look for support or resistance to break before selling or buying etc...In fact, some of the best trades are taken before support/resisatnce levels break. In most cases Ill avoid new immediate trades after price has worked a long way to a key...

MON - 12-06-2010 - (DAY SESSION PART 1) GAP/FIRST MOVE/FIRST RETRACE - Price starts the week in the three day in a row 1224-1216 chop area. The only opening trade attempt was a C3 sell at 1220.50 as price made its first move down on the way to 1216 which resulted in a small loss as price...

MON - 12-06-2010 (OVERNIGHT - OPEN) MACRO - On the daily charts, this is the ES's second chance trying to break out of the 1200-1050 bracket on the way to the 1280 area. The key now is can price breakout above 1224? Price starts today at the lower end of 1224-1216 consolidation with an...

FRI - 12-03-2010 - (DAY SESSION PART 2) SUMMARY - Using the 1224-1216 balance area as a guide while expecting slow trading, the best setups today were intra-day chop based scalp setups after tests of either the high or low areas. Today, these scalps only developed to the long side after...

FRI - 12-03-2010 - (DAY SESSION PART 1) GAP/FIRST MOVE/FIRST RETRACE - After the 7:30 jobs report, price dropped from the 1224 area and by 8:30 had settled in the 1216 area for a gap down, which alerts to monitor 1224-1216 and 1216-1206 relative to a likely pause day. At the open, the 1216...

FRI - 12-03-2010 (OVERNIGHT - OPEN) MACRO - On the daily charts, this is the ES's second chance trying to break out of the 1200-1050 bracket on the way to the 1280 area. The key now is can price breakout above 1224? Price starts today right up against 1224 resistance, with an overall up bias...

THURS - 12-02-2010 - (DAY SESSION PART 2) SUMMARY - Once 1216 broke at 10:30 it provided nice support on the way to 1223 as expected, as back to back one-directional trend days formed. The best deep pullback buy for a push to new intra-day highs developed after a pullback to the 1216 area at...

Current ES chart with key levels

Quick note since this thread has been moved to journal section I trade the ES with a the top-down approach versus a bottom-up approach, which means big picture perspective comes first, and trade setups come last. Before I ever consider a trading set up I work to read the market and...

THURS - 12-02-2010 - (DAY SESSION PART 1) GAP/FIRST MOVE/FIRST RETRACE - By 8:30 price had moved back above 1206 and price volume signaled an opening buy (8:33) at the low end of the 1216-1206 range. Another price/volume buy set up at 8:53 as price worked up to 1216 to complete the first...

THURS - 12-02-2010 (OVERNIGHT - OPEN) MACRO - On the daily charts, price will either "hold above" 1200, or head back into the 1200-1050 bracket again , this time with a much greater chance to take out 1171 and start the move 1120. 1200 is the key now. Yesterday was a gap up above 1200 but...

WED - 12-01-2010 - (DAY SESSION PART 2) SUMMARY - Staying with up bias after Day Session Part 1 provided a nice long trade from the 1200 area up to 1206 area as expected. With a clear up trend day in force, a classic E=MC2 deep pullback trend day long trade developed (1204 area at 12:30)...

WED - 12-01-2010 - (DAY SESSION PART 1) GAP/FIRST MOVE/FIRST RETRACE - The ES first move of the day higher was higher to probe 1200 resistance, offering several gap continuation C1 long trades to start the day. The first retrace move provided a price/volume short trade at 9:15 (just...