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ES Friday 8-15-14


Should be "late day buying spike" not ledge as mentioned on the video....here are the numbers for me...I hope they play well for a friday.......I like the shorts because I am thinking that maybe this buying was option sellers protecting and maybe they will be done protecting this morning...I also like how we have two well formed bell curves from Thursday and wednesdays trading and those will eventually be retested.....just not sure when...54 - 56.50 is a natural LVN today......so be careful in there...better to use as a target
No video below? Try this link: friday.swf








a shrunken version of the key areas...I had to change the scale to fit
Click image for original size
daysession
todays big idea is really to watch closely the numbers from the 7-30 profile....u need nothing else early on...
GREAT explanation today! thx
well I had one small trade in On but starting small shorts at 59.50 in rth ..we may run and may print 62.50 still...so going in slow up here...and will take multiple stabs...don't want to get stuck on the wrong side early on...56.75 is target
if we can get back under todays developing midpoint I will start thinking of another short...or if we get up near 62..otherwise I plan to just be satisfied with the one RTh campaign today.....either way any additional trades will be much smaller...no O/N midpoint test yet and no test of Thursdays high....that is a no-no after two rally days in a row......

the LVN players in the 54 - 56.50 are winning this one.........so far !!!!
starting a small short at 60.75...we have multiple tpos that run from 61- 63 with the poc from 7-30 in between...my plan is to just try small 3 contract trades up here and exit quicker than usual...so using vpoc at 59.50 to exit is not unreasonable on this type of trading.....I want this all small enough so I don't give back much of earlier gains..so basically I look at 61 - 63 as a congestion point
57.75 is best fill and trying to hold one to see if I can get this to work as the high of the day.....so will try to hold last contract longer...possibly for the high of YD if real lucky.
a subtle distinction idea ........
No video below? Try this link: friday_finale.swf






thanks Radyk.......it's not always easy to convey what's in my brain clearly....and it's even harder to sometimes convey it in a timely fashion.....I have tried making videos the night before but then the market moves overnight and the video is useless...so I try to get the videos as close to the market action as I can...I also realize that there are many that do pre market stuff...like ft71 and many on twitter etc......lots of good ideas.........so thanks for watching and my hope is always that somebody gets something out of the videos even if they only get to watch them at some other point in time.......
Originally posted by radyk

GREAT explanation today! thx
wow that is some sell off ...right back to that POC from Thursday......
bruce, ft71 and all twitter put together can't touch u....man u r the best mp trade i have ever seen...if u ever start a fund i will be first in line to fund it...keep up the good work

we just filled the naked vpoc of 49and 43 we had below, those two nicely formed bell curves bruce mentioned we were gonna come back to test eventually...lots of nuggets on his work if u pay attention to the details...

thanks again bruce...u r surely one of a kind and nice enough to share your knwoledge here
thanks apk....I appreciate the good words and glad you are getting something from the ideas....the obvious and the subtle ones...I think many who are struggling with trading would be best to pick a time frame that works for them...one they understand more than another...for me it's the first 60-90 minutes when all these beautiful tests come of value and ranges.....for others it might be the afternoon.......but the best advice i could give is to shut the machine down before/after your preferred time frame is over or stay in sim mode....and if cash is your problem then get a job that keeps you away from the market except for the time frame you THINK may be good for you...

I never mind taking losses....they come, they happen and are part of the business....but when I take a loss ( especially if it is bigger than i like) OUTSIDE of my time frame then that really hurts me.......

sorry apk.....that wasn't directed at you....it's just something that was flowing through my over active brain....I'm gonna head outside and do something physical......

I think the battle will be between 44 and 46 for anyone staying around...that is a low time area between wednesdays highs and Thursdays lows....be careful in there they may need to back and fill..