Today is rollover day so adjust your trading platforms and charts to trade the December 2011 contract from today going forward.
Market Profile Single prints from Wednesday in the September contract.
The market created 2 single prints on Wednesday. The second single print filled in a triggered a long at 1193.25 which had a 1.25 point draw down to 1192 even and then a best run up of 6.5 points to the high of the day of 1199.75. The following chart shows the single prints from Wednesday for the September contract.
In trading today (Thursday) there will be singles left from Wednesday at different price points because you will be trading the December contract.
AY
ayn
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Posts: 128
prestwickdrive, are you looking at anything in particular in es this morning ?
DA
DavidS
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Posts: 557
Just to add a little and with so many readers wanted to ask a question.
Isn't a true H&S pattern supposed to retrace to it's baseline at least?
Isn't a true H&S pattern supposed to retrace to it's baseline at least?
CH
CharterJoe
Rep: 4,475
Posts: 2,352
I don't know what you call it, I'll post more later. basically no counter trend trades other than early morning. Look at the open this am 3 HH and 3 LL back to the open or when it books 3 LL's on the 5min. Short the first LL as its an imbalance and will most likely trade back to the open print. Rest of day look for H3 or better and take the first H1 after a pull back or the first L1 after a L3 or better all trades should be above ema for long and below for short, also best if above open print for longs and below for shorts. Same principle on the longer TF best if they all line up.
BR
BruceM
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Posts: 19,895
Me thinks that the September contract wants the 92.25's and the 88.75's still today...so short is my bias
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
Either my computer or this site is not letting me enter numbers in a reply.
Originally posted by ayn
prestwickdrive, are you looking at anything in particular in es this morning ?
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
Trying again - nit was my computer. I was trading crude oil all day so missed the earlier question. 1203.75-1192.25 gave an initial KT projection of 1185.0 that hit and a full projection of 1173.75 that's valid until 1203.75 is hit again.
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
Originally posted by prestwickdrive
Trying again - nit was my computer. I was trading crude oil all day so missed the earlier question. 1203.75-1192.25 gave an initial KT projection of 1185.0 that hit and a full projection of 1173.75 that's valid until 1203.75 is hit again.
That's for the U contract.
AY
ayn
Rep: 830
Posts: 128
appreciate it !
Originally posted by prestwickdrive
Originally posted by prestwickdrive
Trying again - nit was my computer. I was trading crude oil all day so missed the earlier question. 1203.75-1192.25 gave an initial KT projection of 1185.0 that hit and a full projection of 1173.75 that's valid until 1203.75 is hit again.
That's for the U contract.
DA
DavidS
Rep: 3,181
Posts: 557
Nice! Thanks for the response. I think I got the basics and appreciate the time. Didn't mean to get you to write so much in rth and should have stated so in my post.
Anytime you want if you got more.
Anytime you want if you got more.
Originally posted by CharterJoe
I don't know what you call it, I'll post more later. basically no counter trend trades other than early morning. Look at the open this am 3 HH and 3 LL back to the open or when it books 3 LL's on the 5min. Short the first LL as its an imbalance and will most likely trade back to the open print. Rest of day look for H3 or better and take the first H1 after a pull back or the first L1 after a L3 or better all trades should be above ema for long and below for short, also best if above open print for longs and below for shorts. Same principle on the longer TF best if they all line up.
