ES 09-12 Charts 2 Minute vs 60 Minutes

Day Traders are a different breed altogether.  We pay close attention to the market we trade under and we usually have to look at a futures contract in different views.  At 5:20 a.m. Central Time I took 2 pictures of the ES 09-12 Charts in different time views.  I am providing these not as a sense where the market is going.... but how some Day Traders view the market differently than long term investors.  We look for a $1.00 move which is $50 of profit to us for each contract... If I had played this.... and played 10 contracts... I could have made $500 in about 15 minutes time.  I did not play this because I was taking pictures and typing... So my "Bots" are off for now...


The first chart is a two minute and the second is a sixty minute chart. In this chart (2 minute), you will see that the candles walked down from the pivot or reversal points which at the time was 1332.23.  That would have been an indication to go short. Then you will see that it bounced up off of the Major Support Line.  This is where I use a Bollinger Envelope wrapped around OBV values to see if this would have been the bottom. At 5:00 am Central, I would have stopped the short and taken profits. 




In this chart, sixty minute chart, you will see that candle sticks marched up from a Extreme Oversold around 1304.71 and passed the pivot point of 1328.00ish.  You will see that it is consolidating and or turning downward before it got to the bottom of trading range...