ES Tuesday 3-3-2015

Bands for the day. Good luck to all.

thanks for the explanation Joe

Anytime new kid. One more thing although I think this could be made into a system if A then B then short. I use it as a tool much like traders use market profile. Its just a way of understanding price action.

Thanks for posting, Charter Joe

agreed. the more i trade, the more i am learning that discretion is important and it is hard to have just a mechanical system (not impossible but just hard). I see you use it, Bruce uses it, Dalton use it. Context is king. Everything needs to be taken into account while entering a trade and all these are mere tools in our hands

3rd bracket is inside the IB...

as of now we have a selling tail but no buying tail either today or combined with YD. Very high chance that the low is taken out. Question is where would you enter the short? I am sitting this out

Good stuff newkid...here is what I did (between the two of us we really botched this trade :-)...you didn't take the proper set up...I took the opposite...twice)

I was hoping to get to val and the edge of those singles...the fact that it came down so hard/fast to that level confused me...wasn't sure what to do...felt like I had to trust the level...did..3 tic and 4 tic losers. Sadly couldn't take the bounce off 2103.

If the market had wandered down to that level instead of dropping fast...would that have made a difference?

I X'd out a trade on the pic, please ignore. The pic just shows the single prints.

fresh march lows

action seems sluggish. do we get back into YD range?

id say odds are good gonna try some longs at 103.50

my bad, i was referring to the range of yesterday coming in at 97.50. But the 150% extension for me came in at 95.5. ie 50% of yesterdays range, 6.5 below yesterdays low of 2102 comes in at 2095.50.