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ES Wednesday 2-26-14


Not much to say...yesterday was inside of Monday so here is combined profile which has a somewhat symetric bell curve. Basically we will do one of three things and most probably know this

Dip outside a high or low of the VA or range and fail - driving back to the center,

probe outside and break out higher or lower with volume that keeps coming in to trend away

or just linger outside a high or low and only slightly expand the trading range

no rocket science there !!

we need to respect the fact that we had two tests down into one of the humps of our context chart ( see yesterdays thread) and found support both times and now value is building higher so far this week...we don't really need to think about the gap close of last week until we get back under last weeks highs again sometime..

last profile is Mon- Tuesday combined...I have O/N VPOC at 50.50...so i would try sells up there and also above the LVN spot outside of the VA highs...so 52 - 53.75 is another key for me....I'm not trading in the center today...39.75 - 41.50 is my buy fade area....good luck today..I think we may need it...I think 45-47.50 is the magnet zone for me today in RTH
Click image for original size
daysession
trying small sells off 49.25...this is tiny...
only trying for 47.75 but may not even get that...
flat at 48.75...Ib ending
missed target by one lousy tic
trying again... from 49.50....
taking this off too with nothing ....
Wanted that 49.50 but missed it on first test, so let it go. Will wait for IB breakout now. R1 in 2.5up and on high is 3 above it.
will try again at 51 but favorite zone for me is 52.50 - 53.75.....wasn't planning on trading more but if they can get up there I will try one last short....otherwise we have take note how we went from one side of value to the other as per our chart....will they attempt to keep it centered......? have no idea !!
I'm taking something at 49.25 as this is the point that I had failed shorts and that might become support to run YD highs..
Making value higher. Day's poc, vpoc and oON midline all at 49.50
I hear my bike calling me. Thanks for sharing, Bruce.