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Es Tuesday 11-15-16


Trading for 64 retests from above in pre session....chart / video to follow.

EDIT: Lines I'm looking at today...using less contracts today in general because of concern that the two days that are inside of Thursdays range could POSSIBLY bring in breakout traders ...ideal short trades will get below the 64 and try to target the pivot number but for me I will use the overnight swing low at 61.50 if given a chance to take that target
No video below? Try this link: tuesday.swf






yeah...I just sold short term calls due to gaps in data below but not day trading this
those are spy 218's with 3 days to go for 54 cents
in general this is higher risk fades because $ticks and $add made new highs....so all I have to wokr from in terms of context is the gap in data and the key area of 69.75 from YD's video......Thursdays key zone
gaps in data at 66.75 and 65.25 on ES
averaged into spys options at 61 cents now....market at 71 cents so these are all under water....will decide in the morning to cover and take the loss...probably asking too much to have this sell off back to close at 67 and since we consolidated for so long the odds don't favor that
took +20 NQ long
that's fantastic Palmer...when you get a chance maybe you can post the basic method you are using.....you had the long side called early in the day......I'm taking heat on my 218 calls.....good breadth today with a 1407 high...close to the 1500 threshold but once again volume was off on an up move...tomorrow will be interestingOriginally posted by palmer

took +20 NQ long
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Bruce believe it or not I use simple techniques- I mostly use FIBonacci on longer time frames (daily or hourly) to mark trends, then use resistance, support levels and pivot point to mark area I am looking to initiate trades. I use the Bollinger bands as confirmation for getting into trades so I dont trade the middle. This way I get much more points per trade than scalping- most of my trades are targeting 4-20 points profits in the ES. Usually only get 1-2 trades a day most of the times
My style is mostly of patience more than anything else- I use 2.5-3 point stops and only add to trades if I get confirmation that I initiated too early so I can get a better average
Today I shorted NQ +25 points then long +20 for a total of 45 points - I usually don't trade NQ but it was the more active today early on. I missed the ES long because I had to get my daughter from school, so though it was slow I would have made a very good trading day .