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ES Tue 8-30-11


The chart below shows Monday's trading session in blue. There were 2 Market Profile single prints to trade off. The first was a short at 1194.75 from a single print created back on 8/17 in the H bracket. This was a loser and would have been stopped out.

The ES then created a single print in the J bracket at 1200.25. When the ES traded back down to this it would have triggered a long trade at that price and the draw down to 1199.75 would have been 0.5 points or 2 ticks. The best run up from this trade was to the high of the day of 1208.75 or 8.5 points.

Keep me honest. Are these summaries accurate?

Click image for original size
ES overnight 30 August 2011
It was cresting then ..... did you scalp some shorts?

So much of the action has to do with option pricing from the MMs.....EOM expires tomorrow, then three days left on weekly......ES ATM options are 800, so it should hit 20-30 area by Friday.
Originally posted by grednfer

It was cresting then ..... did you scalp some shorts?


No.
1. I was out.
2. I do not do well fading a trending market and would not short against that strong move.
So its been between 02 and 07 for about an hour......is now when you would expect a single print?
Originally posted by grednfer

So its been between 02 and 07 for about an hour......is now when you would expect a single print?

Look at the TPO (letters) chart below. On the current chart, single prints are above 1211.50 and below 1197.50


Click image for original size
2011 08 301424
I look at 30 -min chart - it is easy to see there - no overlaping candles = single print
ooooo That looks cool.....so the 96.25 trade was a single.

Do you find that single print trades closer to the open work better than those later in the day?
Do you see those right away? Like when they are occuring?

Do you ever look at longer term timeframes, like dailys or weeklys....?
Originally posted by grednfer

ooooo That looks cool.....so the 96.25 trade was a single.

Q. Do you find that single print trades closer to the open work better than those later in the day?
A. Open time is tricky, there are many factors at that time. SO I am going to say it would be easier for you to trade singles mid-day.

Q. Do you see those right away? Like when they are occuring?
A. Yes, but you have to wait until 30-min bar is complete. Sometimes "singles" sit there for days before getting filled. When market comes back to them, you will see where the target is. Does not always mean market will stop there, but you would have to judge that yourself.

Q. Do you ever look at longer term timeframes, like dailys or weeklys....?
A. Yes. For example today I was watching TRAN daily chart for taking out previous swing high (see my last night's post)