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ES Monday 6-30-14


expecting end of month and friday strength to carry over today.....bullish spike area and Fridays POC is critical spot...video explains the rest ...good luck today...with the weekly and daily pivot sitting at 49.50 I think it would be safer to see that print first on any open above that price before thinking about the longside
No video below? Try this link: monday.swf






thanks Bkay....I appreciate the comments....if you look at that 56.50 it was not only R1 today but we had that anomolly ( damn..I can't spell but i sure can steal Daltons word) but still it is a hard trade to take...look at where our old pal the plus 4 - 5.5 zone came in today...I don't mention them as much because most think they are probably ridiculous....ha....but just stupid enough to make money

This close under fridays highs lets us be sellers as long as we don't get a 30 minute close back outside fridays highs...so maybe we can still get that 49.50 magnet
Yeah honestly the plus 4 didn't even enter my thought process. Not that I don't consider it, just not in this case. Probably not rediculous if enough people use the level though.
Yes Bruce, nice going, I asked you a question the other day about info of yours on here some where in regards to rules for trading the O/N but it was during my day/ your night, can you direct me to where I may find it thanks Brent.T
I'll be leaning short until/If I see a move above the action at 55.
Well we are 4 wide and in that spike. So I'm thinkin we'll chop around for a while. End of Month/End of Quarter and our average daily range is significantly higher than this 6 points we are in right now. Average Range is about 13 currently. So I think I'll turn away from the low volume chop-torture and come back later to see how the afternoon plays out.
Brent...I actually answered that at the end of one of the videos over the last few days but the short answer is that I do not suggest trading the O/N and my trades are always just a fraction of the size of my day session trades when I do happen to take an Overnight position....normally I do not put on a trade until 9 a.m EST if I am to initiate in the O/N session.........but my accuracy in O/N trades sucks and most times it is better to wait for RTH to open...I do watch the range extremes and the midpoint of O/N for clues too but I do not have any rules for trading the O/N session specifically..If I did I would basically just say that the levels of the day session are most important and many will cue off them in the O/N session too....just look at todays O/N low and the POC from friday as one small example...most times the O/N just confirms levels generated from RTH session data ...so i don't think there is any thread on O/N ...sorry !
Originally posted by brent.t

Yes Bruce, nice going, I asked you a question the other day about info of yours on here some where in regards to rules for trading the O/N but it was during my day/ your night, can you direct me to where I may find it thanks Brent.T
Interesting (to me) however is that the data reported this morning, other than the PMI # which was in range, was significantly higher than estimated with lackluster reaction. Telling? who knows, just more info to throw in the hopper.
And just before I check out we approach that 55 level I was watching. So now I'm mildly interested. Guess I'll take that break later.
The only reason it interests me is because of the volume at 5475. If shorts are there they may cover and push up.
I agree....this may just be another time waster as they jerk around fridays close and high......good time to fire up Dalton and hear him ramble......even better might be to wait to see what happens outside an IB range extreme...the one thing we know is that value is higher than friday and the spike extreme has held so far...I'm sure Dalton will mention it...
Originally posted by bkay59

Well we are 4 wide and in that spike. So I'm thinkin we'll chop around for a while. End of Month/End of Quarter and our average daily range is significantly higher than this 6 points we are in right now. Average Range is about 13 currently. So I think I'll turn away from the low volume chop-torture and come back later to see how the afternoon plays out.
No worries there Bruce, your comments are always appreciated. As we type they got the push back into the 53's so I'm out. This wasn't a big trade by any means, Just an Idea that never bore fruit. That's the danger of hanging around too long to see if something might happen. All in a day's work.