alleytrader

alleytrader

yesterday produced a poor high, and an unbalanced day, we also have the predominate magnet up above at 2074, today will watch the globex high and see how the market responds if buyer take us higher or rejection to gap close the down side road block to the gap fill at 2035 is 2046 and 2043 remeber to check out the ES traders room on my website

alleytrader

today in ES, numbers then plan, 2053-56, 2045, 2035.5(gap), 2028, 2018.5 first look at overnight high and see if buys can push it over for a run then for 2053-56 and if buying fails then gap fill at 2035 is target come visit us as we trade ES, look in my TV profile find the website link, then click on the free chat room

alleytrader

thought would look at each distribution per candle, now we do look bearish, however at a distribution edge

alleytrader

the top maybe in, however teh short has not been triggered yet

alleytrader

the action in a weekly and daily looks bearish, but maybe looking at it this way not so bearish. I guess soon enough we will see

alleytrader

these are the boundary's to the three current distributions, do not be bearish or bullish trade the response to the levels

alleytrader

Today's trade idea, typed out on chart. This range is getting smaller and harder to find big set ups and this being FOMC minutes day normal action is slow and small range until the release of minutes

alleytrader

All explained on the chart, and if market opened at time of posting I say up move on open to then follow with down late morning and finish back around yesterday close

alleytrader

This area is not only support from prior visits to the price area, but also sis a significant Fib retrace area. I will be watching if we can get there as a strong potential to bounce. A break down of this area will be significant.

alleytrader

Information is on the chart

alleytrader

nice risk reward setup, that can go either way

alleytrader

will place alert and look to short at marked level

alleytrader

The line is important not because of support or resistance but because it is proven to be a magnet for the market and works as a great target if short on resistance or long off support. This target can be used until the channel the market is in break one way or the other. The reason I use this as the target instead of the other side of the channel is the middle...

alleytrader

The wedge has broke down, now market gets to retest area, it the wedge barrier holds then a good low risk area to short the ES

alleytrader

Rising wedges, above 200 ma, so still a long term bull picture that can go on for some time, Even though long term bull some good shorting fast trade are available.