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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 i would try sells up there and also above the LVN spot outside of the VA 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
small runner trying for 47.75 but don't think I'm gonna get it...
pullingthe plus at 48..not gonna be tortured
Nice trade. Right off of the RTH high while I was dreaming about higher numbers! Well done!
thanks ackwired...remember I use mostly market orders and trading and posting is almost fact it the numbers I'm posting are not fill prices....sometimes mine are better and sometimes worse but it's all I can do as I don't have time or energy to post actual fills and look at my screens and try to get something timely on here.....just want to reiterate that...don't want anyone to think I am catching exact high and low prices as I am not !
I understand, Bruce, and I don't know how you manage it. It's all I can do to manage a trade, let alone post it! So I really appreciate your sharing. You are a great teacher!
there it goes..without me....I think many will be watching that 45.75 - 47.25......for a buy opportunity now....
thanks for the good words...developing vwap is right at our key bigger picture zone...and we still haven't run a RTh high or low from yesterday...will this be the rare double inside day ?? todays high matches YD high....seems too obvious !
value is developing higher so I am picking at longs at 47 even....this is very small and it's 11 a.m......closing time !!...see if I can get this back to 49...may take some heat and if so I deserve it......this is more of a magnet zone than a trade initiation zone and they may still need to go retest 45.75
VWAP is working today. Really reacting from the vwap and bands.
this needs to get a move on or else they are gonna flip it over and run out those stops at 46.50 and jam it into vwap that sits slightly below...I think they will probably happen
I hear my bike calling me. Thanks for sharing, Bruce.