Monday, July 23, 2012

ES - 23 July, 2012

Open positions: none

Next possible trades (subject to confirmation as market approaches):
Long: 1 @1330.5
Long: 1 @1321
Short: tbd


  1. Hi Max

    Saw your post on Tony's Caldaro's blog.

    Question 1: Is this the 1 minute time scale? Looks like it.

    Question 2: What do the white lines and boxes mean?

    Question 3: How is the the green line trading channel generated?

    By Andrews pitchfork or trend lines on support and resistance points?

    Thanks Rob

  2. Hi Rob,

    Sorry for the late reply, my time zone in different from yours (Italy)

    Question 1: the time scale on the 23 July chart is 1h, see top left of the chart "ESU2 180 days, 1hour";

    Question 2: the grey box is the Friday closing and the white box is the Monday close, they give me a visual sense of where the comfort zone for the subsequent week is. The white lines are the projected support/resistance levels. In this case they were clearly support and the market stopped on 24/07 1tick before the 1320.88;

    Question 3: the channel is simply drawn from the 2 tops of 19/06 and 05/07 and bringing the parallel down to the low of 25/06.