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ES Wednesday 1-28-15


Here's how I see it and a still shot below for those who prefer not to hear me ramble
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tweekly
in fact I am going to take a small long off of 21.50 to go for it...I have a price action area at 20 - 21.50....
so basic theory is that greenies or HVN will be defended the first time back into them most of the time....
single prints at IB low...a low probability of staying like that and with fed day who knows what will happen
very basic theory yes...and when they blow through them they often get retested ...in this case nothing happened at 24.50 so I expect them to come back up to check it out again
Originally posted by daddywolf

so basic theory is that greenies or HVN will be defended the first time back into them most of the time....
and some days we are just wrong or find it difficult to get a good trade for these retests...so I took a loser at 20.50 and will try one last time from 18.25...with target at 21 first ......
Bruce, did we not test the 24.5 yesterday itself? that is when we formed the 27 greenie. so that past VPOC was already tested so no need to retest it again, today. i thought that was the rule you followed. it is only good till it is retested again
the biggest problem is that even though the greenies retest often...we don't always know WHEN.....so it is like many probabilities.......they can look great but not always easy to use to make $$$$$...there is too much air on the chart above that i think needs to be filled in
i have a greenie that formed there as the cash closed...4 pm close.........it's the way my IB does it so I just follow my orders from my commander......the IB data !! LOL !!!
Originally posted by NewKid

Bruce, did we not test the 24.5 yesterday itself? that is when we formed the 27 greenie. so that past VPOC was already tested so no need to retest it again, today. i thought that was the rule you followed. it is only good till it is retested again
ah, got it. FWIW, i did not have a greenie there.... besides i have lost faith in the greenies that occur at the end of the day anyways. same goes for at the start. it is the wide ones that get my attention. the wider the better i have seen

Originally posted by BruceM

i have a greenie that formed there as the cash closed...4 pm close.........it's the way my IB does it so I just follow my orders from my commander......the IB data !! LOL !!!
Originally posted by NewKid

Bruce, did we not test the 24.5 yesterday itself? that is when we formed the 27 greenie. so that past VPOC was already tested so no need to retest it again, today. i thought that was the rule you followed. it is only good till it is retested again

coming out on finals at 24 even.......not worth trying to get the extra .50 pts on this...also came out on most at 21 ...cash close is very important.......so watch that 24 area for clues if u still want to play
one for the road...here is how the lines are playing out so far today ...I'm posting this so some can see what happens if you take trade off the highs of low bars when u hit support ....or sell the low of that high bar at the top....remember...we buy highs of low bars when we drop down to them from above......how many tries would you take at your lines becore you get just one to run ??? Notice at the 26.71 line you never get trade above the high of any of the low bars at that line .....!!! very cool !!
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