ES Monday 8-7-17

In early trade I am trading as if 2473 is the magnet price...working on a video...best to get the trade on 2 points or more away from that magnet to make it worth it


video edit:




edit: I took another crack at that seasonal chart at the end of video one





Keep in mind that the options have a one standard deviation move priced in at 23.5 points for this week......so you can add and subtract that from fridays 4 pm close

plan for my options trade is to sell calls expecting us to trade at least 5 points under the open sometime this week......BUT we need to open above that weekly POC from last week. so as long as we open above 2472.75 then it's a go !

covering all and not holding any runners on this short at the 73 target ...I don't like how the first one minute bar has all the volume and it leads me to think we may pop back up.....this will probably be only Es trade I make this morning

gap in the data at 74.50 so if we can get 2 points or more under that then I may look for the long trade to go retest that

got cheated on that and didn't get the long fired off

I think they will want 2471 ( sometime this week at least ) and that is where I will take options sold off regardless of amount made...so revising my 5 point target idea to 4 points and the weekly pivot.....still we have all the volume in first one minute bar today ....seems like nothing will change until we see a higher volume bar...otherwise pushes above and below that will return to it in theory...at least we can expect returns to the opening range high or low

gap in the data at 73.5 and a poor low at current days lows......I'd have to see us at least two points above the gap in the data to try the short to make it worth it...this just keeps coming back to test opening one minute bar...no new high volume yet...just too tight and not worth it to me.....Your results may be better.......options are not doing much.........that will be it for me today unless my alert goes off at the 71 print