ES Wednesday 4-15-15

I'd very careful trying to short this powerful move. Currently 10 points above Euro IB high. I'd prefer -5 off the open to begin with.

Good luck to all today!

Key price point for me is that H of 2 days ago, 2101.25,
RTH of 2 days ago was double distribution in my opinion, so if the current lift reaches 2101 could attract some sellers (on the first test of that area)
Initial support for me is 93.75-92.75 (The single area from 2 days ago) estends down to 92.00 (yesterday's H)

-5 from here would be Y close and Euro IB hi, slightly below O/N mid and Paul's level.

whoops, meant extends down to 92.00
Usually, once price gets into a (for example today) the uper portion of a double distribution, the border separating the two distributions can be tested and usually holds, but if that area gives way, all the longs from the upper distribution are going to head for the exits in a herd.

The power of +5 is uncanny

nice fill mike

I don't understand... What was the power of +5?

Up 5 pts from the open and short?

Yes, you've asked this several times before. I beleive. +5 off open = short/-5 off open = long. i apply the same trade to 3:15 close price in the O/N. 1 Point, 1st target, then go to BE on runners. 1.5 stop initially. Only modifications for market condition are size and how many come off at 1 point depending on confidence or need.

Originally posted by PAUL9

I don't understand... What was the power of +5?

Up 5 pts from the open and short?

I set up by 8:31 and hopefully get near the front of the queue.

Originally posted by duck

nice fill mike

OK, thanks for the explanation.
It's easier for me to understand when you combined both the rules in that one post.
I am an old man with one foot in the grave...
I will print out the rules... memorize them and then eat the paper.

That's about all we can eat as we advance in age-LOL

Originally posted by PAUL9

OK, thanks for the explanation.
It's easier for me to understand when you combined both the rules in that one post.
I am an old man with one foot in the grave...
I will print out the rules... memorize them and then eat the paper.

Today, 100% came off. I really was nervous getting short into that move. I did then get long at 2100.50 based on 2 other setups converging, a much more comfortable trade for me today although I came within a tick of stop out a couple of times.

Originally posted by apk781

so mike in this case u got the 0.25 fill, took a 1pt profit and then got stopped on runners? what percentage do u unwind at +1pt ?