7/29/2010 Post Trading Analysis

Sorry for such a late post.  RG and I had a meeting this morning that consumed much of the day.  Today’s trade came rather early in the session.  The ES had moved into the lower part of our 09.75 / 12 level pre-market and continued to trend up through the market open.  The 12 outside edge  held on a push up after the market opened before rotating down and pushing up to 13 providing a good shorting opportunity.  I marked up a 4 PnF chart below because I think the opportunity is a little easier to see (although the 6 PnF and other timeframe charts also work).