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ES Monday 3-9-15


Bands for the day. Good luck to all.

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iv030915
good trading as usual Bruce. I got one tiny piece and thats it so far. Missed a couple of opportunities but that is the way it goes sometimes..
thanks...I'm trying one last one..that 78 was the LTN in the key zone....and we still had the NDX divergence........somedays it's hard...in fact many days it's hard...using the 74 area again as first target ...then trying to hold......that upper zone is edge of bigger bell
Originally posted by NewKid

good trading as usual Bruce. I got one tiny piece and thats it so far. Missed a couple of opportunities but that is the way it goes sometimes..
putting runners at 77.25 and letting this go now.....targets are new lows and 67.75....ha.....too funny but ya never know....busting my 13 year old outta school and attempting to go ski....first time this season....this may hurt......good luck if you are active in this mess
have a good time Bruce. This is very messy indeed
New here. I have been reading the old messages. Thanks for all the good information shared. As far as today, I am being whipsawed to the point of fatigue.
welcome to the forums RikR. It definitely has been a difficult day so far for me. trying to hang in there.
for anyone who cares... when the market opens inside value and then eventually makes it to a VAH or a VAL, a lot of people use those levels to take a position... Like right now, we are close to testing the VAH from Friday (VAH from Friday was 83.00 to 84.25 area depending on software used . Also, Weekly Pivot I have is 2084.00.

great point Paul
One thing I always vex over... Singles.
Like today, we have that area of singles from Friday that ran from 2087.00 to 2082.25.

Here's my question... They are singles, On the first test of day old singles, you want to try the other direction, BUT, how do you know whether the entire column of singles will be filled or not before a reversal (if one happens at all).
Today, (so far) we just went one tick into the singles...How can you feel confident that that's a reversing point ?

I don't know and it keeps me awake at night (only kidding)

I still look at volume profile and it is thin at 82.50 thru 82.00, but I look a little higher and see virtually no volume from 2084,25 up to 2086.75.

Maybe today can offer insight does anyone have rules of thumb about day old singles? (Those singles actually added another price point of interest to the cluster 83 to 84.25. sure seems like something should happen here... i'll happen without my money involved. LOL
seriously, does anyone have any rules of thumb for singles?
Paul, here is my interpretation of singles. When we leave a lot of singles behind (as we did on Friday), then typically get associated with becoming LVNs because the market went through there quickly. So my initial reaction would be to fade them because we typically fade LVNs to exit at a HVN. Now once that fade is complete, there is a good chance of eating into those singles and filling in volume there... now Friday;s VAH is bang in the middle of those singles therefore giving another data point... typically when I see conflicting data, I try to back off... but today since the market has been sluggish, I was tempted to fade it, took some heat and made a measly point off of it... so i guess it depends on context...
By keeping it simple and letting my wife push the buttons while I was out...the fade off 77 (5 points off open) and 83 (10 points off the open) worked sweet. Notice too how far those moves went, yup 5 points each (not that I target 5 points).

Good luck tomorrow!