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ES Wednesday 10-19-2016


On this day 29 years ago Black Monday.
there isn't much to say about today given yesterdays small range..... we have a low time/ high time combo area coming in at 35 - 36.50 so that is my key zone to watch...I'd like to find sells off that to get back to YD's close and weekly pivot again...we need to be careful as we spent all day YD inside the IB and we only had a 10 point range....so this may lead to a valid breakout and bigger move if/when we get outside one of YD's range extremes


not looking to be very active this morning but will also watch for a very quick push outside one of YD's highs or lows that happens quickly and early and leaves an air pocket or spends very little time at the extreme....then I would look for a trade back to that extreme for a retest but ONLY AFTER if/ when it pushes through quickly...that is the key...if we get bigger range bars and volume BEFORE we get a breakout then that increase the odds that the range extreme might see price hangout there a bit and then reverse back into the range


we should see two Floor numbers print especially if we are expecting some range expansion...the overnight has it's one minute poc at 32 as I type.......keep in mind where R1 and YD's high is...we may need to work off of two levels that are close buy or else just create two zones...one from 35 - 36.50....and another from 38 - 39......thats seems so ridiculous as I type it...LOL......because the numbers are so close together....hence another reason to be more selective today
Bruce, What is the "IB" you mentioned? Sorry for my taking your time. Just trying to learn the lingo.
Best Regards,
Simon
33 is one minute poc from yesterday so that's enough for me........terrible trading conditions...so trade at your own peril.......I'm going outside to do some concrete work....hey NEWKID...have fun in Mexico...hope it's for pleasure
Initial Balance which is the first 60 minutes of trade in RTH session............and don't be sorry for taking my time....questions are always welcome
Originally posted by Simonig

Bruce, What is the "IB" you mentioned? Sorry for my taking your time. Just trying to learn the lingo.
Best Regards,
Simon
does anybody have any experience with automated trading systems? or have one to recommend? or a place where i can go to check them out.my searches have came up empty

thank you

duck