ES Monday 6-20-16

Keyareas I am watching

2088 - 2090

2085 - magnet price and weekly R1 ( I like this as a target today)

2081


keep in mind we should see either the daily R3 up at 2090 or the daily R2 print way down at 2075 today based on statistics. Sorry but no time for screen shots...anything over 2087 puts us 1.5 SD's up on the our bands...so I prefer to look for sells above there today. Video goes over other confluent areas...good luck

85 should be a bull bear line today......no pigs allowed....I'd like to see a pop up and then a rollover but will take what I can get

no O/N mid-pt test on Friday either and today we have it at 78.75 FWIW

I had the 88.25 short that went nowhere ( couldn't exit fast enough) and will try in the 89.75 - 91 area....getting above 94 ( poor high up there) will cause me to stop trading this morning...

thanks...forgot that as I didn't trade friday but should have picked up on that....will this be the dreaded two days in a row ? Lets start by getting back under the overnight high

Originally posted by NewKid

no O/N mid-pt test on Friday either and today we have it at 78.75 FWIW

as shadow trader says, fading a double digit gap is always very risky and i have found that out first hand!

I took something off at 87.50 as that is that old POC and Overnight high.....need to make up for first scratch....I should have been quicker on first trade but was thinking that we would sell off harder and was too slow...so in a way I was the PIG !!!

I think that is especially true if you are expecting gaps to fill but I just use my prdefined lines and work off them but it is a great observation and guideline to work from

Originally posted by NewKid

as shadow trader says, fading a double digit gap is always very risky and i have found that out first hand!

I'd really like to see that 85 magnet price again...that would be ideal

agreed, that is more for the gap close. but i have noticed (no statistical data to back it) but the first 5-min opening range is crucial on double digit gap dates. if the other end of the OR is not breached relatively soon, then it is a gap and go kind of a situation. that opening range is a great line in sand and i think the reason is that a lot of people look at it and make it self-fulfilling

Originally posted by BruceM

I think that is especially true if you are expecting gaps to fill but I just use my prdefined lines and work off them but it is a great observation and guideline to work from

Originally posted by NewKid

as shadow trader says, fading a double digit gap is always very risky and i have found that out first hand!

30 min VPOC at 87 even but its not a clear cut winner with lots of HVNs scattered through the profile

well we ended up getting it late in the day! good trading as always Bruce