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ES Friday 3-23-12

a look at the main areas for Friday based on high and low volume
Click image for original size
L 83.50 but will work harder under that 82.50
gotta be careful ..we are under VA and under range of O/N..range projection comes in at 1380 so realize this is aggressive..they see that double low
81.75 was add point but not a strong signal..84.75 has the air pocket
first air is 83.50.
ok add point with a better signal at 80.75..making me hussle now..going for first air to cover and pull up runners
it would be nice if they made the retrace back up to go fill those two air pockets easy but I don't think they willbe so kind today
Bruce thanks for your updates, I try to follow everyday and your videos have made it so much clearer for please keep up the good analysis!
a very common pattern with these fade trades is that the first initiation point becomes a great spot to close out trades from second initiation point ( add on point). So quite often it is a good idea to cover most of your contracts at that spot and leave something on so you can get the next air pocket but not too much where you willtake a loss if it drops back down
Hey Bruce what was your "better signal" at 80.75's? Did you see something in the footprints?

I guess I need to cut back on the coffee..didn't play this back so hope it can be understood
No video below? Try this link: ramble_on.swf

Originally posted by BruceM

just went flat at 90.25. biggest trade in 4 years too in terms of getting a price swing..not boasting just pointing out that there are still opportunities in these markets. hope all have a great weekend

Congrats Bruce on that trade!

You're right, there are still a lot of opportunities in ES and the volatility will likely pick up in the future.

I missed the buy at 1380.50 which did fit my set ups and here are some reasons:
- An identified level at 1380.50
- Price expanded to 3-4 pts outside of 20min OR/Outer extremity of ATR
- VOLD was not consistent to the downside. If it was, I may have still taken it but would have exited at a closer level like lower OR/VWAP and etc.. In this particular trade, had I taken it, I would have looked to exit at HV@87ish, which was your set from LV to HV..

Question: What made you aim for the other side of the bell curve?