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ES Wednesday 9-27-17


how I see it.....price eventually will want to take out that ATH...I thinks it's just a question of when ...10:30 reports today again.....cash closed basically at Mondays close.....6 - 7 points is 86 % number again today
No video below? Try this link: vid1.swf






I'm using 2504 - 2506 as a POSSIBLE resistance spot...cash hit it's 86% band and we are near R2 .....keeping everything smaller on any fades up here......breakout traders can use one minute high and low to get the plus or minus 4 number
there is no good volume spike bar to work from yet ...
hey Bruce, would that be the high and low from the 1 minute OR? so +2507.75 -2499 for a breakout up or down?
Current day low is now both poor (no excess) and weak (1 tick above yesterday's day high)
I just use the open price ...so basically a breakout trader would be looking for plus or minus 4 off the open print...so 99.50 on downside and 07.50 on the upside...today it didn't matter much but some days the opening range ( first minute ) can be very big......the original method as taught to me did NOT use it as a breakout method....this persons key trades where fading 2.5 and 4 points off the opening range ( he called into the pit for the range and it wasn't derived by time) highs or lows using the big contract ...this was before the emini took over and made day trading the large contract less effective....see the pitbull threads if you want more info on those trades.......if we went 2.5 points above his opening range high and then 2.5 points below his opening range low then he was done for the day.......he also didn't trade past 11 a.m EST...he did well but I also saw him take some big drawdowns .....
Originally posted by trader88

hey Bruce, would that be the high and low from the 1 minute OR? so +2507.75 -2499 for a breakout up or down?
biggest volume bars from yd came it at the lows of Yd but also at 2496
Yesterday's gap in data at 2500.25 is now repaired.
Could Monday's gap in data at 2489.00 be a play?

I guess we'll have to wait and see...
some thoughts on volume that I wanted to get out pre market but didn't have time and a brief ramble on the OR trades
No video below? Try this link: volume_and_open_rnage_breaks.swf






let me clarify this...breakout traders can buy or sell the first one minute high or low and then target 4 points off the opening price....
Originally posted by BruceM

I'm using 2504 - 2506 as a POSSIBLE resistance spot...cash hit it's 86% band and we are near R2 .....keeping everything smaller on any fades up here......breakout traders can use one minute high and low to get the plus or minus 4 number
then there are those above at 2501......so who knows???
Originally posted by Aladdin

Yesterday's gap in data at 2500.25 is now repaired.
Could Monday's gap in data at 2489.00 be a play?

I guess we'll have to wait and see...
may be we can use this either way....if the 1501 gets hit then we sell calls expecting the market to drop and repair the 89.....if the 2489 hits then we sell puts.expecting th emarket to repair 1501...I guess we'd really need to see how often they don't get repaired....and burn us..
Originally posted by Aladdin

Maybe the market is in the hands of a computer just executing program lines regarding gaps in data:
IF 2489.00 is repaired
THEN repair 2501.00

Originally posted by BruceM

then there are those above at 2501......so who knows???
Originally posted by Aladdin

Yesterday's gap in data at 2500.25 is now repaired.
Could Monday's gap in data at 2489.00 be a play?

I guess we'll have to wait and see...