ES Friday 6-13-14
how I see it...hoping to target the midpoint and the 1922 today....doesn't matter to me which side of it we open...that midpoint is a big magnet and I hope we can use it today and have some room to take a trade and get at least 1.5 points of profit....
the reason I switched directions and took to the long bias is three fold.....there is a classic MP trade that says " if we open in Value then try to buy the value area low or sell the VA HIgh "......so I waited until we got back above the VA of YD and we had BUYING prints on the lows from today.....and the third reason is if you look on my chart posted you will see that we had three periods whose highs matched in the Overnight at U, V and W .....some may have also seen the buying tail at the lows in the overnight formation but I haven't had as much luck with those
just deleted a post that seemed duplicated...basically it was saying that this 29 POC is center of upper distribution and if sellers win then they will come back to IB breakout test point...iN general Value is building inside YD VA so many will tryto buy the breaks and the 24.75 - 25.75 seems like the place to do that
there is a nice price action line at 30 - 31 so if you are selling this 28.75 area then I wouldn't want us to step too far outside of 31 as a stop loss point
simple logic also tells that if the short term traders can't push to R1 on this push then they will come back to 25.25.....R1 is 32.75...also 60 minute grail sale players have their EMA at 30...so lots of stuff up here to hold the rally back now...and yes I do other technical things besides MP in my spare time....LOL
I can seem to create this ...can u post a picture please...it may be a data issue...or maybe the old back adjusted data thing-a-ma-bob !! thanks.....
Originally posted by sharks57
We had a major VPOC of the 6/4 and 6/5 profile at 1919.50 which held up prices now seem to be one time framing higher
Bruce, I had a data issue since I rolled over to Sept today sorry,
ES low on Thursday was on the weekly s1 classic pivot pivot and the high on Friday was at the weekly pivot point, #pivotpower