ES Wednesday 8-21-13

stole a laptop...complete with real barking puppy - video

how I see it early on today..even though the vid is named Thursday it really is for today - WEDNESDAY

keep in mind that Tuesday stayed inside Mondays range and the current overnight is inside Tuesdays range...


fed stuff leads to consolidation.......statistically, they will break one side on Mondays range this week and probably sooner than later....just something to keep in mind

I have a small long working in On for that 47.75....not a good track record on these O/N trades...will play harder in day session

my zone in day session is below the On low and yesterdays RTH low...I want 45.75 as a first target..

I hope some can see how they push under a zone by 2 points or more only to come back to test it......so you know I had that 45.75 as a line.....so that was a good reason to try to buy under the O/N lows..

they pushed the 45.50 - 45.75 out and down by two points and I had to make good on the poor buy in the overnight....


trying to get to 47.25 as to not be greedy for that 47.75 magnet

trying to hold one for the gap fill but will target 49.. a test back to 45.50 will stop that last runner out...


magnet played well today......

in my mistake journal I wrote in

" Once again a trade initiated in the overnight causes more harm than good "

that's me done at 48.75 print....that swing high from the O/N is here and not holding for an extra few tics

fomc at 2 pm today for those who are playing today....I think the buyers will want to keep this above 45- 45.50 in order to have a shot at getting that matching high at 48.75...

I see nothing good to do here now but staying above the opening range would go well for the bulls


good luck...I think the best trade we already had but hope it goes your way !!

thanks bruce....great trading as usual !

thanks Nick and glad to "see" ya around here...


I liked how the initial magnet was also at the half gap fill today...that helped!!

it seems to me that there is more excess ( to quote Dalton ) on the highs this week and we have some poor lows....logic tells us that the lows should get visited again...


we'll see if that's true...not trading anymore today ...just babbling out loud

oh yeah nick..we are on the same page.......I agree..lots of great confluence