ES Wednesday 9-18-13

very high odds we return to the overnight midpoint today and if it ends up being the 1700 level then even greater chance...95 - 96.50 will be key support...then 92.50 below there

You have to get going pretty early to beat Bruce to the punch lately Thanks for the kick off.
No charts (yet) today as levels have not changed too significantly from yesterday. Overnight is pretty tight as was yesterday. No surprise as everyone is waiting for Fed announcement this afternoon.Will watch 98.25 and 93.00 but probably won't get sucked in to doing much until this afternoon.

this market will die down around 11am et before the fireworks at 2pm...other than what burce mentioned, i have the 702-704 area above...anything above that is just plain air, so your guess (daily or weekly resist levels, fibs, range expansions etc, etc) is as good as mine...that said, i will try shorts in that area or slightly above, especially in the morning...if the market rips after the fomc announcement i will not stand in the way till i see some structure develop

below yest rth low and that onvpoc from yest (where buyers showed up early in the am) i have the 88-90 area that will likely get some buyers if it is tested early in the morning...all the o/n jam (corresponding to yest's rth session) is there, as well as monday's rth lows and small buying tail

so, net net, we are in a 688-704 range (including o/n data) with accetance at 698 (guess where o/n low is thus far)...the val of this range is 692.5 (no surprise here either) and the vah is 1700 (nice round number and near yest rth hod and rth all-time high of 700.5)...i doubt we will sustain a break outside of range prior to the fomc news so mean reversion trades could well work in the first 60-90m

good luck

I started small longs at at 98.25 with 99.75 as the target....my plan is to buy at lower prices if need be down near 95 - 96 and then use the 98.25 as the target...so I may be a bit early

added at 97.25...this is high risk so very small...revised target is 99.25...if we keep dropping O/N midpoint will change...Ideal long point is down in the 96 - 95 area in the day session as long as the overnight midpoint hasn't been printed yet

had one last small buy under O/N low as it was yesterdays POC as per time..

so now I can take something off at original entry and try to hold for the O/N midpoint...so I want to see 99.50 print to close this campaign

watching the tick here...holding below zero thus far...chart later

they are trying to torture me and those playing for the gap CLOSE fill...back and forth to open shows much different type of opening then yesterdays open and drive

tick has balanced a bit after opening and staying mostly neg...

Originally posted by NickP

watching the tick here...holding below zero thus far...chart later

took something at 99 as it was close gap and sometimes those who bought will sell out and drive market down once that gap fills...only one left for the 99.50....stop is at 97


" a market that can't hold beyond an overnight range will target the On midpoint" Dr. Brett

I think I quote him differently each time

This place is for everyone and all......we welcome all ideas and like to see them repeated over time.....posting while in trades is not required and it would probably be better to spend time After the trade is over to give a more detailed explanation instead of trying to trade and post............please post often and welcome to the forum

Originally posted by greg.orlowski

Hello to all. I was interested in posting some of my thoughts and hopefully receiving some confirmation from other active traders. Question. Is this forum basically watched for the BruceM trades? My trading style was tape reading the NYSE and trading impulse reversals.

I haven't been able to tape read the e-mini:)))

Thanking anyone in advance,

Greg
prop trader at Navillus and Bright 1998-2003... ES 2005-CURRENT.. Full-time.