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ES Monday 2-2-15


Bands for the day. Good luck to all.

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iv020215
30 min VPOC @ 87.5
Is Bruce still celebrating the Super Bowl win? :)
NewKid,
I see the ES just tagged your first 30 VPOC...
ARe there any implications as to price action after a test like this from below?
NewKid,
when it tests from below, does price back off a little and then shoot up through it? HA HA (I couldn't resist)
Paul,
I do not have any hard data to backup any of this so please take this with a big grain of salt.

I think the bigger picture today was as follows.
We had a prior weak low at 81.25 and we were in a trading range with 81.25 being the low.
We looked below that range, failed and came back.
As soon as 81.25 turned back from resistance to support (it was originally support at the start of the day), then 87.5 became a target.
Now Friday's low was at 86.25. The first time we broke through it from the bottom, then 87.5 was close enough to be a target.
We went back outside Friday's range to see if there was anything there.
When we saw there was nothing there, we came back into Friday's range and hit our 87.5 again. In that case I would think at least today's open print or the opening range (1-min) low was in play.

And then subsequently, the high of Friday or at least the wide POC @ 2001.75 would be in play

Now I am stating all of this after the fact but I too am still learning.

FWIW, I did not take this trade or any trade today for that matter. I am back to doing research and getting my bearings straight.

The short answer to your question would be, it depends :)
OK,
thanks for your response
snow day today for the kiddies so the house was/is louder than usual...no posting, only one small short today for me... here are some various comments and most important was the context this morning.....hopefully this is repetitive enough to be useful to some....
No video below? Try this link: late_then_never.swf






Great stuff BruceM!!!

Been here for about a week. Just floundering around trying to absorb as much as possible. I'm using NT so trying to find out what greenies are how you arrive at them etc.
Anywhere I could learn about the "trade below the low of the high bar" you are using for entry?

Really appreciate the sharing of ideas.