12:13 pm EDT: The ES has traded to below the projected range. Accordingly, longs are aggressive. However, there are few things that would support a long up to at least the ~1122 level. (1) Trendline support on the combined session ES chart from Dec 18 to Dec 30 is holding. (2) The ES took out yesterday’s day-session low by three ticks and got a buying spurt, which is a sign of a potential bear trap. Were we to be long, we would not hold below the current low of 1117.25, however.
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sdg
on December 31 2009 at 16:19:56
TF 3 min day … buying upside range violation of inside bar @9:36 at globex low … entry @631.40 and high was 634. At the high we had confluence of globex high, last week’s high and yesterday’s high. Selling downside range violation of inside bar @9:57 was good for several points.
Currency News – Thursday, 31 December 2009 | forex | Euro Currency Herald
on December 31 2009 at 18:36:38
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