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ES Friday 7-15-16


57 - 58 is my magnet zone........we can take shorts in premarket for that now but in day session I think it will be best to just use the one minute range breakouts still....54.50 is other key price to watch.........so the basic idea today may be a bit harder today since we won't have a big gap out of range so beware of whip saws on this mechanical method....

but using one minute range break you will eventually get either that 54.50 or the overnight high up at 62...


i'm hoping one of two things will happen in day session......

1) we get the short off the OR low and go tag that 54.50

2) or we get the long off OR high and get that 62

the reality is we have a third scenario

3)
my concern today is that we open above the 57- 58, take out the OR low and that 57- 58 stops price before reaching the 54.50......if you see that happen then look to get the longs on at the 57 - 58 area as it becomes support to try for overnight high..so u may need to stop and reverse today !
I wasn't expecting new highs before RTH opened...I sold OR low and using 57 - 59 as a bigger zone as first possible support...hope it doesn't become support as I would like further selling...t but will take core shorts off in there....sorry, but some days it's hard to be timely and that pop up made my first post fairly useless
bruce it wasnt useless..you call the OR method and it work perfect text book..good trading..enjoy the weekend..ya i will long the rat at 56.25 if we get there.
57.50 is final for me.....not sticking around.....thanks for the good words Duck and hope all enjoy the weekend too