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ES Friday 3-21-14


Here are my numbers...got caught up on stuff this week with some terrible trading in between and ready to head out on vacation tomorrow. If we open above 65 - 67 we will be opening above a multi- day consolidation and out of value. So using either the one minute range or 1.25 range breakout plan would work well even if you have to take multiple tries and use a .one point stop...especially if you use the range chart and don't watch order flow closely.....so we should either break and keep running higher on a true break out or we should fail and this will be the fake out and we will run back down into the the consolidation over the past three days.
No video below? Try this link: Friday.swf






Rick W - u asked me at the end of Monday about entries...I posted a 1.25 range chart sometime in the past 3 weeks but can't find it right now.....it was near the end of one of the threads......most times I am watching the one minute bars and the pace of the tape at my predefined areas...On a day that opens out of value I will also take breakout trades from the one minute range depending on how big that first one minute bar is....

In an ongoing effort to refine entries I keep looking at footprint charts and recently had a DTN trial...I'm hoping to put more effort into that at the start of May.

I should also reiterate that I will often take up to three tries at my desired area of interest . So my first try is smaller. Then if I take the loss I will try twice more but with more contracts. This way I can hopefully make up for the first loss quickly and ride something to go positive from the campaign at the area.

If I do a trade where I average in ( I don't do them as often as I did in the past) I ALWAYS start small and ALWAYS have a predefined uncle point that I will exit and take the loss if wrong
Thank Bruce. Great stuff as usual!
took the one minute high long but exited real quick...wanted a quick win....just covered at 76.50...I'd like to see a short signal up here to try for a retest of the O/N high and back to that 70....gotta watch that all time high real close now
volume building at 75.....so they are using our 74.50 as a bull bear line it seems...so far.....very cool
back inside OR high and O/N high...that was a big first one minute range and is a harder trade to take a breakout from...really want to see this stay under that 75 area in order to have a chance at the 70.50 print....I'm going to assume they won't make it easy on us
back to the open...anyone remember the plus 4 - 5.5 zone ..ala pitbull ??
ya had ordering sitting at 77.75 plus 5.5 pitbull #.. i find 5.5 and 8 for me give the best reaction off of those numbers..
notice how well the time VA high from 3-11 goes with the O/N VPOC...always cool to coordinate O/N with day session areas...u can use 30 minute close idea with ranges too...so getting a 30 minute close under the O/N high is good for bears.....4 minutes to go if using that as a filter....a tuff battle up here for sure
perfect day...unlike yesterday...regarding the 30 minute close concept....remember I said in video that a 30 minute close above the 65 - 67 is bullish but the CRITICAL thing you want to see is to have price trade through there in RTH.......a gap above doesn't count.......this would be true with any range ...so we can use the 30 minute close idea off the O/N high so far but not with the 65 - 67 because we haven't traded through those prices


another thing : do you think big traders allow price to come back to mere chart points that us small frys watch ? I don't ....I think when they decide to buy or sell hard they leave single prints and don't come back to break out points.......just another thing to think about as to who may be in the market trading against you at times


look where O/N midpoint was and todays current low........we shouldn't ask for more from the O/N range !!
Anyone know what happened to BruceM ? thanks