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ES Wednesday 7-31-13


Damn that 84.50...still the magnet but they will only be kind to us for so long before they break it away and don't come back.

I'm requiring any trade I take to revert back there to be at least 2 points away from 84.50...you can see the lines on my chart...they really haven't changed but I have added in 81 and 79.50


above is that 86.75 ( really safer /better to see them push out all those swings above there near 87- 87.75) and more important will be the 88.75 - 90 zone if it comes

this has been a multi day consolidation so the fed news should change that later today....hoping to be long gone by then

not much to type and I'm not gonna make up complex scenarios that have no value. Just be careful if you think they are holding above the 86.75 or below the 82.50.....then we may be on the wrong side and our fades are in trouble...otherwise I will be looking still to get back to 84.50


a 9:45 report to contend with too...here is my crappy chart

hope they play well for us this morning
Click image for original size
wednesday
minimal opportunities althought they did come back to the open print off the upper zone.....I dislike opens that test the magnet Immediately on the open few prints....the test happens too early


I'm trying additional fades up above the 90.25 as the may need to come back to test 89 and lower...

91.75 is another inflection point for me..if they try to break out the ib with some power
the 88.75 - 90 is the zone I mentioned yesterday...when they pop above those they usually come back to test...the problem here is that there is not much room for much profit before the test comes...It would be better to see 91.75 print before the sells are initiated


so I am front running this a bit and may take a loss because of it

all is smaller due to the potential to trend
I have 91.25 and 91.75's working short...ideal will be the retest of 89.25 now.....will monitor the brackets outside the IB...we know they like to have two brackets test the Ib extremes most days

keeping it small but a wider stop as the 90 minute window will soon close and the pitbullers were already able to push out once and bring it back to the open.....so they already scored!

i will not be stubborn and just keep adding...that is a fools game

better to take small losses and try again.....my theory is that 89.25 should get retested
if we close at 11 am above the Ib high we will have two sets of single prints on the chart...they usually fill one set in at least...this would go well with having another 30 minute bracket test the IB high and fill in that second set of singles...


does anybody get that ??? LOL

so that's what I will/am trading to have happen
so all we really know know is there is a high probability of retesting the IB high at some time before the day ends...that's all the probability tells us

I like the 91.75 and then again up at 94 - 95 as two key spots to see if we can get the fade working for that test....and I am not adding on the way up !!!
ya gotta love it...there is the test...not a huge trade but if we get lucky they may try to push downn to to test the 89.25...that Ib high may not give it up so easy so takae SOMETHING if you were on this fade.......and then PRAY for more!
I hope many can see the logic/ madness in that idea...it can really help outside of the IB when we run up against a know resistance or support zone..


sometimes I think my trades don't translate into print very well...anyway...hope that helps
most people don't realize that prayers have suction !!!


nice job to all who beleived.....time to swim !!


good luck
Originally posted by BruceM

if we close at 11 am above the Ib high we will have two sets of single prints on the chart...they usually fill one set in at least...this would go well with having another 30 minute bracket test the IB high and fill in that second set of singles...


does anybody get that ??? LOL

so that's what I will/am trading to have happen

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is that cdt
...
That's east coast time Red. My Initial balance - the IB is 9:30 - 10:30...EST
Wow - that 84.50 is some magnet...."Strong like BULL "