ES Tuesday 9-26-17

Areas I am looking at. Screen shot has major areas for me...YD was "b" profile and implies longs liquidating but not new shorts.....so watch for a possible dip down and then higher prices if magnet zone can hold back dips





a volume spike recap and ideas for trading them




edit: the poc of the overnight is right at the VA high from yesterday at 95.75 so if you get a short on it would be best to use that as a first target instead of waiting for the magnet zone in the 92 - 94 spot

Thanks for the rehash of the volume idea!!!

gap in data at 2500.25 & 2498.75

if you had the short then coming out at that POC of overnight, the pivot number and the minus 4 is the wise choice I think....especially given what Aladdin just posted and biggest volume bar of the day sits slicing through the 2499 - 2500....and now we are so close to magnet zone which could turn into support

in general we have to be careful about gaps in the data...on my TOS data there is a gap left over from yesterday down in the 89 - 90 area.......so those are my least favorite ideas in general but given the right context they can make good targets....just not a personal favorite of mine....

I just took a quick short at 2495.50 (O/N halfback) with an initial target of 2485.00 (yesterday's day low) and a stoploss at 2497.00 (closure of current double distribution).

(Let's hope them gap data players did not see those two gaps...)

a new high volume bar as we drop into the magnet area....I'm not trading anymore.....the market did what I expected and I'm always trying to practice being content......it's not easy....YD they sucked me back in but not gonna let them do that to me today even if it is is my zone for another trade.....I gotta get outta here...c ya tomorrow

so you are expecting a down OVB ( outside vertical bar) .......I use to know the statistics for down outside bars but forgot them....I'm gonna say about 7% but that is from memory and haven't run stats on that in years.....good luck Aladdin I hope it tanks for ya....

Originally posted by Aladdin

I just took a quick short at 2495.50 (O/N halfback) with an initial target of 2485.00 (yesterday's day low) and a stoploss at 2497.00 (closure of current double distribution).

(Let's hope them gap data players did not see those two gaps...)

the fact that we made that high volume bar at the floor trader pivot would have me drawing conclusions ( sometimes right and sometimes wrong) about what kind of players are in the market today...OK...nuff said

Thanks Bruce.
Stopped out at 2497.00

I guess today is another b-formation in the making.
Market waiting for Yellen's speech...

Originally posted by BruceM

so you are expecting a down OVB ( outside vertical bar) .......I use to know the statistics for down outside bars but forgot them....I'm gonna say about 7% but that is from memory and haven't run stats on that in years.....good luck Aladdin I hope it tanks for ya....

Originally posted by Aladdin

I just took a quick short at 2495.50 (O/N halfback) with an initial target of 2485.00 (yesterday's day low) and a stoploss at 2497.00 (closure of current double distribution).

(Let's hope them gap data players did not see those two gaps...)