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ES Monday 5-9-16


Looking for some strength from Friday to spill over early on so opening under 55 would be ideal to try longs at 51 area and also at Low time price of 46 area ( 45 - 47 is a zone for me)...both have confluence with a daily Pivot and a weely pivot...here are two quick charts with the main areas....Overnight high goes well with Daily R1 marked on the chart


the Weekly SITYS numbers are 2070 and /or 2033

today's daily SITYS numbers are 2060 and 2043

First the daily MP chart


Click image for original size
daysession




and here is my one minute time chart.......gotta be careful as Friday afternoon had a well defined time bell and if we fail at the center ( the 51 number ) then dropping down to 46 - 47 would be the plan

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Click image for original size
tweekly


current O/N midpoint sits just above Fridays highs


gonna be using 53 - 54 as a magnet/ target today....but also will keep in mind that we will print either the Pivot at 46.75 or the R1 at 59.50 based on Probabilities...once again our high time area at 51 kinda splits up the r1 and the pivot magnets nicely ..tricky stuff though
trying to hold to see if I can get 59 on runners...probability is up there...nuff said...this is only trade today........I always think it's best to get it over with as quick as possible if you get lucky....strength has spilled over !!
the amount of single prints makes the ONH fadeable. Not saying I am doing it but it does look enticing
30 min VPOC @ 55.25
just exited at 58.25...u guys can have the rest...don't want to risk being
tortured a second time up
nicely done as always Bruce.
thanks Newkid...i wish it was "always" but anyone reading this needs to realize that I take multiple tries in my zones...somedays they work well and right away and other times I take small losses before I get it right...and some days I just don't get it right at all....I don't want to imply or infer that this is easy and a no-brainer
Originally posted by NewKid

nicely done as always Bruce.
so far we have had only two tpo prints at last WEEKS time VA high...I usually expect a minimum of 3- 4 TPO's at those areas...doesn't meant it will happen today but SHOULD happen this week ....with all that volume and time I think the bulls will want to keep price above that 45 - 47 zone and then they will have a shot at putting in more tpo's at last weeks VA highs...bottom line is that I don't like shorts If I was trading now....which I am not
hello bruce

when you take your small loss. i am guessing between .75 and 1.5 points. correct? on your next trade in the your zone do you increase in size?

thanks
duck
yes...my losses are in that range in this volatility.........I don't trade larger but will try to ride something a bit longer if I can on runners but usually my first order of business is to get that previous loss "cleaned up " and make some money...get my brain feeling good again
Originally posted by duck

hello bruce

when you take your small loss. i am guessing between .75 and 1.5 points. correct? on your next trade in the your zone do you increase in size?

thanks
duck
so far we haven't had the R1 or Pivot hit and we haven't hit the famous ( ok, maybe not yet famous ) 99 % SITYS number hit yet either...logic tells us that if the one minute poc of time currently at 2053 is building higher than friday afternoons one minute poc at 2051 then the implication is that they should try for the upper numbers before days end...todays vwap is also way above fridays...we did put in a third tpo at last weeks VA high FWIW!!!
both of these ideas failed today....I went back and input cash close into formula for SITYS bands and those didn't hit either...missed 99 % band by 1.25 points....the cyclical nature of the market will have me leaning heavier and probably trading longer until a pivot number hits tomorrow..so net , net is that two high probability events failed today....very interesting ....
Originally posted by BruceM

so far we haven't had the R1 or Pivot hit and we haven't hit the famous ( ok, maybe not yet famous ) 99 % SITYS number hit yet either...logic tells us that if the one minute poc of time currently at 2053 is building higher than friday afternoons one minute poc at 2051 then the implication is that they should try for the upper numbers before days end...todays vwap is also way above fridays...we did put in a third tpo at last weeks VA high FWIW!!!