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ES Thursday 11-6-14


Today's volatility bands:


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iv111614
what helped me take that trade is we dropped down first BEFORE hitting the O/N midpoint...so I had a good feeling they would have at least tried for that...
Your trades are great time and time again...
that 2016.75 is a poor low to me so looking for shorts now to see if I can get that to run out
quick question Bruce, if u took the break of the 1m bar u basically took 19.25 and o/n midpoint is 19.5 so can't see how u are using that as target and even yest high at 20.5 is 1 pt away? what do u use for stop, below the 1m bar low would be the right stop to place but then the risk reward is just awful on that trade isn't it ? thanks for the videos the past few days btw
sold 18.25 as that is 4 pm close on the way back down...but they didn't give me the break....tryingto sell again at YD highs....gotta be carefull because if we all get it wrong then we all start to cover and market can run up quickly....as we cover our losses...I want that low
correct ..risk to reward is aweful on a trade that opens inside of a previous days range and at the closing print...OR trades work much better when we open out of range.....and that is why I was hoping for that 23.area,,,and also why I usually don't use the OR low for a stop when we open inside a range...i will put it 1/2 way back of OR or even 3/4 just to get out earlier
Originally posted by apk781

quick question Bruce, if u took the break of the 1m bar u basically took 19.25 and o/n midpoint is 19.5 so can't see how u are using that as target and even yest high at 20.5 is 1 pt away? what do u use for stop, below the 1m bar low would be the right stop to place but then the risk reward is just awful on that trade isn't it ? thanks for the videos the past few days btw
I'm hoping my unhealthy obsession with 16.75 low pays off......and soon
I took the 18 number again and will try to hold 2 for new lows......my sells came as we tried to test YD highs again
pulled the plug at 16.25 print and done for today......tricky day and hopefully some can see the difference between these OR range trades are depending on where we open in relation to the previous days range
using the one minute range you would have been able to get the 2011 on the very first break of the OR low......and would also been able to take possibly a few small wins on the break out of the OR high...that's questionable...using a 5 minute range you would have had a false breakout up top but then came back and made back entire loss on the short side....my suggestion on a bigger time frame is to use 1/2 or 3/4 back for a stop loss point when using bigger ranges...
Thanks Bruce. That helps understand. I was looking at it as a double bottom and that buyers were defending it...