ES Friday 10-14-16

Made these on Thursday night so no time for refinement..........wanted some to see how price can often blow through ranges extremes but then come back to test them and second video goes over basic lines for Friday...those need work,,,,
No video below? Try this link: friday_part_one.swf

No video below? Try this link: friday_part_two.swf

on last try....runners will stop out at new highs or else I will get the far I have taken no long trades today..gotta break this channel on downside
here is evil channel that needs to break down

Click image for original size
I'd like to see yet another test of 39.50 that DOESN'T cause price to pop up...this is ridiculous trade today
looks like you are about to get your wish!

Originally posted by BruceM

I'd like to see yet another test of 39.50 that DOESN'T cause price to pop up...this is ridiculous trade today
35 was final exit...I had a line there from wednesday and that is real close to the 36.50 came out on runners at both spots....almost on schedule today...32.50 and 28.50 would have been next targets but no ammo......good luck and enjoy the weekend.....that wasn't easy on us and we had to be "pitbulls" speaking of pitbulls...where is plus and minus 4 - 5.5 zones today >>>????
note the "blow through " of yesterdays high only to come back UP to retest that from below seems that they drive about 3 - 5 points beyond these types of reference points to take out stops......think ..u are taught to try and buy a previous high as we drop down to it - it's suppose to become you buy there but the market doesn't stop dropping and your selling out for a loss leads to further selling least temporarily.....most people seem to only handle a 3- 5 point once all sell out then nobody is left to sell so we pop back up to retest the reference in this example

that ends " The technical world according to BruceM " for today...don't know if that is why that stuff happens but it happens!!

Ok, gotta well and enjoy !!
Sharks, my apologies.......I was so caught up in the market and replying that I didn't ask you what you thought of it.....hopefully u will see this and if not I will ask on Monday
Originally posted by sharks57

Great Videos Bruce..
The one time framing then retracement concept does happen quite often on many timeframes. Understanding when to fade those breakouts is the key. That's where the numbers and other confluence indicators can help.
Was curious what you thought of FT71's Bookmap software? Do you think you could use that as a fader type trader?