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ES 5-20-2011


Here is the weekly RTH volume profile through Thursday. POC ins the thick red line at 1339. Compared with the relative volume on the lower pane saying this is a low volume environment, prices are simply digesting the big move up from Tuesday. More sideways action today or do prices break above/below this congestion?


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es30min05202011
just a thought, Lorn's weekly RTH vol looks a little top heavy, mid week longs trapped?
Originally posted by BruceM

Trade on both sides of the IB...the midpoint becomes important...neutral day.......!!! that is 34.50 !!!


Could you expand on that? I am relatively new to using MP. I see how we traded on both sides of the IB, thus it makes this NOT a trend/directional day... instead, more of a neutral/uncertain day, as you mention.

So, how do you use that info? Does that mean there is more pull toward tomorrow's PP (which would be the midpoint) toward the end of the day? maybe a pull toward the DPOC?

Thanks in advance!
Daniel
Absolutely. Thank you. And I sincerely hope my comments are NOT taken as sarcasm. I was simply amazed by the market movement today and thought I could add a touch of humor to what I considered a WOW moment.

Actually hoped it did fill for that virtual group high five moment!

If I don't say anything else, I'd like to take this moment to wish everyone a great weekend! g'night!

Originally posted by BruceM

I have no evidence of the reliability of Triples in the Overnight session being run out so use them as targets at your own risk.....
Originally posted by TradeQueen

I'm going to go put on a diaper, because if the two left up there in the 40's fill today.... I'm going to need it!




Originally posted by BruceM

nice run of those triples from yesterday....without me...



On a day we trade on both sides we usually do one of two things: close at an extreme or in the middle...at least that is the theory.....How I use it is that I use the middle as a target providing we get a good signal once the second side of the IB trades...

Sometimes it breaks the second side and keeps running...so as usual everything needs to be put in context and we can't just blindly buy or sell anywhere......

I'm not a good late day trader so although it is fun and interesting to see where we close I am rarely in a trade at this time nor would I take a trade so late in the day...hope that helps
Originally posted by neoikon

Originally posted by BruceM

Trade on both sides of the IB...the midpoint becomes important...neutral day.......!!! that is 34.50 !!!


Could you expand on that? I am relatively new to using MP. I see how we traded on both sides of the IB, thus it makes this NOT a trend/directional day... instead, more of a neutral/uncertain day, as you mention.

So, how do you use that info? Does that mean there is more pull toward tomorrow's PP (which would be the midpoint) toward the end of the day? maybe a pull toward the DPOC?

Thanks in advance!
Daniel
It's all good...I just wanted to make sure that nobody trades for O/N triples or anything mentioned on these threads without doing their own research first.....

Most know not to do this I hope...

u have a great weekend too..
Originally posted by TradeQueen

Absolutely. Thank you. And I sincerely hope my comments are NOT taken as sarcasm. I was simply amazed by the market movement today and thought I could add a touch of humor to what I considered a WOW moment.

Actually hoped it did fill for that virtual group high five moment!

If I don't say anything else, I'd like to take this moment to wish everyone a great weekend! g'night!

Originally posted by BruceM

I have no evidence of the reliability of Triples in the Overnight session being run out so use them as targets at your own risk.....
Originally posted by TradeQueen

I'm going to go put on a diaper, because if the two left up there in the 40's fill today.... I'm going to need it!




Originally posted by BruceM

nice run of those triples from yesterday....without me...