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ES Wednesday 12-6-17


most important numbers derived from Tuesdays range are 2634.50, 2638-2639 and then that 2643 - 2644


edit : I',m adding 26 - 27 into the mix today


Video EDIT - I have refined my lines using my favorite chart and confirmed the current Overnight high....my current plan is to look for long trades off the 25 - 27 zone in order to try and get the Overnight high and a 31.50 retest......but if we go up first then I will look for shorts in a zone of 31.50 - 33.50 ( I think that is more accurate then using the 34.50) and also shorts in the 36.50 - 39.50 ( I will use two spots 36.50 and 39.50) ...the video goes into more detail and why I have made some refinements....also talks about that 25 - 27 spot
No video below? Try this link: Wednesday.swf









my ideal trade is a poke down that runs out of steam and then tries to go for the overnight high..........I will also be taking smaller OR trades even if it is against my core idea..the best trades will come using a combination of both....for example...suppose we get a first one minute range that forms in the 25 - 27 zone....then taking long side breakouts of the OR high is more attractive to me and I would lean heavier on those trades.....but the reality is that you don't have to overthink the OR trades....just be willing to stop and reverse especially with this increase in volatility....you sill see plus and minus 4 numbers hit quicker!


If we get the long on from 25 or less then I would use one tic below yesterdays low as a first target...so 27.25 would be your first exit point
I have made bold the key point from today...especially for those who are familiar with my style of trading....toady we opened in our support zone so taking the LONG OR trades worked very well...and even a plus 4 to the overnight high area.....
Nice Call Bruce
On your opening range trade do you put sell stop and buy stop 2 ticks above the range? or just buy and sell market. Thanks for your response.
I use market orders...i want to know if I am filled and in the market so I don't mind giving up tics here and there to have the peace of mind that I am in the trade....and not waiting to be filled on a limit order......if you have time you could put a stop order in to get filled ..as you mentioned.....I don't know which would be better over a large number of trades but it's probably better to use your method and put in stop orders.......I'm just use to going market....either way will make money if you stick to the rules over time......quite often I will use limit orders for exits on RUNNER contracts
thanks a lot.
Originally posted by BruceM

I use market orders...i want to know if I am filled and in the market so I don't mind giving up tics here and there to have the peace of mind that I am in the trade....and not waiting to be filled on a limit order......if you have time you could put a stop order in to get filled ..as you mentioned.....I don't know which would be better over a large number of trades but it's probably better to use your method and put in stop orders.......I'm just used to going market....either way will make money if you stick to the rules over time......quite often I will use limit orders for exits on RUNNER contracts


As Bruce said, do your thing and stay consistent.

I get stopped in and limit on the way out (winners)

Why?, I do not want open orders in case of power failure, internet issues, a heated phone call etc.
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