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ES Tuesday 3-10-15


Bands for the day. Good luck to all.

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iv031015
yes...can't trade and post timely....took the 55 exit and will once again try to hold for 57 retest
nicely done Bruce! that was a super quick hit
the next greenie i have is at 47.5-49
Believe me, I read Bruce and I embrace everything he has taught about what to look for in the profiles, and I use that information to trade the markets for profits...but here's something that might come into play today from a completely different way of looking at the market.

Before I got involved with the Profiles, I was a pattern trader...
I'm just going to toss this out here because it is something I have noticed... but not quantified.

Many times, when there is a large down gap greater than 12 points or so, and there is not a breakout and run UP on a break above the H of the first 1 minute bar (and by run-up, I mean the High of the first minute bar is exceeded and then consistently HH and Higher or equal lows), well, then there can be a 3-leg decline in the RTH. meaning the overnight Low is undercut (that is the first leg of 3), then some kind of attempt to lift and or sideways consolidation, then another period of weakness with a new LL in the RTH (downleg #2)... We have this...

then, I still wait to see a 3rd LL.
I don't know what's going to happen, but it wouldn't surprise me if a 3rd LL unfolds, (I have seen the 3rd LL at 11 am or 12:30pm, but obviously there is no time table).

I do look at $ADD, and it is not in a terrible place right now.... if there is a 3rd LL and the $ADD is in positive divergence at that 3rd LL, that can bolster my confidence to start fishing for longs...If the $ADD can manage to get above -1200 and use that as a support... the johnny come lately shorts are being forced to cover.
on 51.50....watching to see if singles will form off Ib low.....will use 48.50 as an add point if needed...targeting 53 but if I add lower will target 52.50..........52.50 is a better target but not worth one point from entry
runners going for 54.50 and 56 since they have been so nice today...but we need to watch that Ib low closely
cool observation Paul
54.50 is peak time for me now...I'd like a retest please !
thanks for sharing that Paul... cool stuff
you finally got your runners to work. nicely done again. you were a machine today!
Crude has a picture perfect abc wedge almost to its 21ema on the hourly if anyone's still trading. Im trying to decide if the euro is going to take a breather tonight or continue its 50-80 pip overnight slide.