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ES Thursday 2-19-15


Once again I'm going to try and use 92.75 - 94.75 as a target this morning....Pivot is there and a low Time spot on Current week.....picture below....On High respected R1 level today and S1 sits at our old friend the 88.75 - 90 area...weekly vpoc/poc is here now too....so that is best place to try longs.......what we don't want to see is a high volume and very low $Tick push down....that may imply that we have had enough consolidating this week and they are ready to seek value at lower levels...

I am using 88 - 90 as my key level today on downside.....Greenie from Yd sits at 92.75 so that would need to be the first target if you find the long...yesterday was an inside day too.....so we are consolidating.....On midpoint sits Above my Greenie !!


if this first zone fails then I will try another buy at 83 - 84.75 but probably not lower...s2 is down here too

so gonna start small longs at 88.50 now in O/N...This is previous all time highs...a dangerous inflection point
Click image for original size
mpweekly
wow...looks like I bailed a bit early on that one...LOL!
nice call on all that... a real beauty !!
Originally posted by apk781

yep, i got that ibh scale as well (was watching ibh/vpoc area)...next is 93.5, confluence of mid and vwap...below that and really 91ish comes into play pretty much

Originally posted by BruceM

final for me is 95.75 print...I just don't like the 4 pm close and the fact that peak time today sits at 94.75...yd va high is there too...so they may bounce it around in here

yep...all out at 92...they did not even let me scale 93.5 lol !!!! it dropped too fast and went straight to 91-92....91-93 imo is the key here and if bulls hold it they could still make new highs...but not playing for that..thanks bruce and let's get them again tomorrow
here is a picture of the more complex 1-2-3 pattern....note I have two number "3" points...and note the down outside bar it made....that second number 3 point......so u are looking for these things once that tuesday high, R1 and we approached that spike in the On session
Click image for original size
tt
u can take multiple small losses with this method and eventually get a good score as long as u use them at KEY areas...not just any old place on the chart
right...i usually am not the "multiple tries in a zone" kind of guy so i'd need to adjust that mentaility to even begin to look at it lol...i am always trying to refine entries/exits and stop placement, and am of the opinion that another tool in the arsenal never hurts so will start monitoring that idea and even do some backtesting...
yeah...it's certainly not for everyone.....u know the drill....find something that works for your personality and stick with it....for me I just got tired of holding through drawdowns at my zones so prefer in general to exit and try again......and it isn't always based on this method either but i put it out there for others too.....



and as a quick aside./....Nice call to Paul on the spike observations !!!!
Originally posted by apk781

right...i usually am not the "multiple tries in a zone" kind of guy so i'd need to adjust that mentaility to even begin to look at it lol...i am always trying to refine entries/exits and stop placement, and am of the opinion that another tool in the arsenal never hurts so will start monitoring that idea and even do some backtesting...
yep...look how first they battled a bit a thte base of the spike around 96 or so and once bulls won tht fight they took it to the other edge of the spike...which of course had very nice confluence with the rth ath level till taht point at 98.5...so that 98.5-99.5 was a nice little zone for bears to try to attempt a decent pb...
this is always fascinating to me how we can all come up with our reasons.........for me that battle was due to the 4 pm close at 96.25 ( when the cash market goes unchanged) .....for me the Overnight really only confirms levels derived from day session data..... for you it was the base of the spike from Overnight.......and both of us are right........!!!.

I'm only making a point about how diverse the markets and the people who trade them are.........it's all so cool to me....couldn't see doing anything else !!
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Originally posted by apk781

yep...look how first they battled a bit a thte base of the spike around 96 or so and once bulls won tht fight they took it to the other edge of the spike...which of course had very nice confluence with the rth ath level till taht point at 98.5...so that 98.5-99.5 was a nice little zone for bears to try to attempt a decent pb...