No registration required! (Why?)

ES Wednesday 3-18-15


Bands for the day. Good luck to all.

Click image for original size
iv031815


Tuesday was an inside day with respect to Monday so I will be on the lookout for a breakout of the 2 day balance or a look outside balance and failure. I expect the morning to be slow and choppy until the FOMC announcement at 2 EST so the fades have a better chance of working than a breakout in the morning.
Feb VPOC/POC: 2083.5
March POC/VPOC: 2067.5/64.75
Weekly POC/VPOC: 2038.75/39
All time high: 2117.75

Greenies:
2085
2065.5
2063.75
2052.25
2050.5
2036
2029.25
2022.75
i managed to get in at YD low and out at 30-min VPOC for a quick long trade. theoretical runners would have been profitable
best fill is open print...I mention it only because it shows the targets I like and this is part of zone that failed me earlier....holding one contract to see if I can get price to touch 63....57 will take out this last contract...so at a price of 60 I have 50/50 chance of it going up to final target or down to stop loss...
great one new kid.....congrats...
Originally posted by NewKid

i managed to get in at YD low and out at 30-min VPOC for a quick long trade. theoretical runners would have been profitable
thanks Bruce. i had the 30-min VPOC at 58 and would have held my theoretical runners till 59, open print (which was close to YD VAL) and maybe O/N mid pt.
Congrats on your good trade as well. Gives me a warm fuzzy feeling when I see that I took the same trade as you.... :)
welcome to the forum. how do you define supply and demand zones? can you share a chart? thanks in advance

Originally posted by AZ Trader

I think price action is trading in a Supply Zone. I'm looking for price action to down to a Demand Zone of 2040.
AZTrader
its just crickets right now.... and i kind of expected it due to it being Fed day morning... that is what made the buy at YD lows a fairly safe buy in my mind,,
since this is so exciting, i had a question for Bruce.
Bruce, do you use market orders to exit as well or just for entry?
stopped at 60.50......only one point away to target but not gonna give up the rest for that
I will use both depending on what is happening..usually my core trades I just come out also at market but often with runners I will trail a stop....especially if my focus is shifted to the options etc...
Originally posted by NewKid

since this is so exciting, i had a question for Bruce.
Bruce, do you use market orders to exit as well or just for entry?
if we can see some signs of consolidation above 60.50 then I may take small stabs at long again with the goal to try and hit 65...nothing aggressive though
Originally posted by Big Mike

0 for 2 today. Time to conserve capital for another day.

Big Mike: Enormous kudos for not trying to kid yourself or anyone else and being open with your results. I'm incredibly impressed with the humility and humanity expressed by you and BruceM and New Kid and all the others for your ability to "vocalize" you losers as well as yours winners.

No matter what we do in life we will have successes and failures. I think that it's our ability to accept and own our failures that makes us successes in the future.

Also great to see that winning trade of yours at the end of the day!

Good trading everyone!