ES Thursday 2-6-14

well I spent at least 1/2 hour trying to put together 3 videos for Wednesdays trade and it seems few are interested....that's ok as I don't want to waste my time or anyone else's so if nobody is getting anything out of them then there is no reason to make them...I'm cool with that...It's actually faster and easier to just post a chart or nothing at all....

this isn't about votes or any of that...I just don't want to put in the time if nobody has feedback ( good or bad) or can contribute to the ideas....so we'll keep it to just a chart for Thursdays trade.....well compare these levels in the morning..two days have created some volume at 45.50 so we need to be aware of that.

if you are short up here you have to at least be bothered bythe fact that we broke out of Tuesdays highs and have yet to re- enter them off the 56 - 57 zone.....I took small loss and will try next fade Idea above 59 ...expecting to retest 57....watch 59 - 61 close for clues.....we may need to try a few times

no fill yet

fill target 59.25

fill at 59.25 stop move 60.50

have 60.25's working...not sure they are gonna make this easy on us...trying for one minute stops sitting at 58.25

we know if they keep trending it then 64 is their next objective to try and push for....I'll settle for those 58.25's first if I can get them......got greedy on trade off the 56 - 57 zone and allowed 1.75 points of profit to turn into a small loss....sloppy !

out now..maybe this 2 lot trader should just exit all at 1st target..or keep the wider stop..got more to learn..

I hope some saw all the volume on the volume histogram that built out at 56.75 ...in our zone.......all us shorts got trapped so our exit helps bulls push it higher...I don't see that yet up here at this zone so I think we may be in a good spot...at least as I type this we are...

adding at 61.25......gonna have stop at 63.25......it's ok to add if you know your uncle point....averaging in to an area is different than average into a loser....so know your pain point

rburns thanks for the link yesterday..it a good read so far

I agree ...that's when it becomes real important to see what happened with good old fashioned price action.......it can make a big tail or any large single print area a bit more manageable...also a great question to also ask your self is " are we able to hold in or out of value from previous days ?"...the time Value area high from monday was 59.50...so blowing through there and leaving a single print behind is sending a message.....which is always easier to see in hindsight...but might help if you trade outside the first 90 minutes etc..

Originally posted by sharks57

thx for clarifying Bruce, those profile tails still baffle me somewhat.