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ES Friday 1-23-15


Bands for the day. Good luck to all.

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iv012315
yes and no...really the third bracket is the one i watch...if that ends inside the ib then i don't fade the break of the ib on the 4th (or any subsequent) bracket
so if the third breaks out, you would fade it instead of riding it? is there an explanation for it or is that more from historical data? TIA

Originally posted by apk781

yes and no...really the third bracket is the one i watch...if that ends inside the ib then i don't fade the break of the ib on the 4th (or any subsequent) bracket
Thanks APK
so you do not care if 2nd bracket is inside 1st bracket... you only care that the 3rd bracket is inside the IB, and then you are watching the breakout of the IB, NOT the 3rd bracket.

from your wording, you do not necessarilly buy a move UP out of the IB, you just don't sell it short and vice versa you don't really use it for a trade?

curious wording, that's why I asked.
would have to look at what the market is doing (if it is clearly trending for the first hour then ib h/l proly is not that meaningful anyway, so in that case i would not fade it), but yeah higher odds that i would fade it in most occassions...
correct

Originally posted by PAUL9

Thanks APK
so you do not care if 2nd bracket is inside 1st bracket... you only care that the 3rd bracket is inside the IB, and then you are watching the breakout of the IB, NOT the 3rd bracket.

from your wording, you do not necessarilly buy a move UP out of the IB, you just don't sell it short and vice versa you don't really use it for a trade?

curious wording, that's why I asked.
may be bruce can chime in and give his point of view...i know he watches those as well
OK, Thanks for the explanation
thanks for explaining it apk
apk, would you have taken a long from YD's VAH @ 46.25 to test the IB low? Because the third period broke out of the IB, you said you would fade it, right?
i should have had an intermediate get out point at YD's VAH.... i did not take the trade as apk gave me pause to think about it...
anyone going for more would really want this to stay above 51.50 - 52.50....last weeks highs....profile is balanced so far today...so u can't be sure that they will just keep driving it back to the center.....ok....gotta get to my second job now !!