ES Wednesday 3-18-15

Bands for the day. Good luck to all.



Tuesday was an inside day with respect to Monday so I will be on the lookout for a breakout of the 2 day balance or a look outside balance and failure. I expect the morning to be slow and choppy until the FOMC announcement at 2 EST so the fades have a better chance of working than a breakout in the morning.
Feb VPOC/POC: 2083.5
March POC/VPOC: 2067.5/64.75
Weekly POC/VPOC: 2038.75/39
All time high: 2117.75

Greenies:
2085
2065.5
2063.75
2052.25
2050.5
2036
2029.25
2022.75

I think price action is trading in a Supply Zone. I'm looking for price action to down to a Demand Zone of 2040.
AZTrader

YRTH low lines up nicely w -10 off close. We'll see what happens there, right now looking to see if -5 becomes resistance.

1st trade done, let's see if -10 shows up before open.

Good luck to all.

If we open around here (58) +5, O/N midpoint and Y swing low (late) are all lined up.

If no gap fill in 1st 5M, I'll take the break short looking to take out O/N lows.

for me 59.50 - 60.50 is key area to watch if we are to go get midpoint iwhich has an afternoon swing low as confluence...will also be using 56 - 57 and 51.50 - 53 if needed

Because of the 2 little swing highs?

Originally posted by BruceM

for me 59.50 - 60.50 is key area to watch if we are to go get midpoint iwhich has an afternoon swing low as confluence...will also be using 56 - 57 and 51.50 - 53 if needed

this is why 59 - 60 area...it is a bell and a LTN...was that the question mike..?

Yes, thanks Bruce.

Stopped out on the 5m break, no mojo at all.

buying under Yd lows.....so far I had one loss and one win....basically a break even day so far...so would like to get one small piece on this long

trying to get to 58 first and then pull in runners....don't want to get caught on wrong side just in case as only area I have below is that 53 and not letting it go that far from me today

Originally posted by Big Mike

0 for 2 today. Time to conserve capital for another day.

Big Mike: Enormous kudos for not trying to kid yourself or anyone else and being open with your results. I'm incredibly impressed with the humility and humanity expressed by you and BruceM and New Kid and all the others for your ability to "vocalize" you losers as well as yours winners.

No matter what we do in life we will have successes and failures. I think that it's our ability to accept and own our failures that makes us successes in the future.

Also great to see that winning trade of yours at the end of the day!

Good trading everyone!