ES 1-9-09


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  • VOwater
  • 9-Jan-2009 at 9:32 AM
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GM Traders
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  • koolblue
  • 9-Jan-2009 at 10:12 AM
  • Rep: 48.6k
  • Posts: 16k
this shouldnt be too surprising...for 3 months i told you bout the JAN low of the cycle that started at 1586! 120 day and 40-45 day cycles bottom in about a week. and those closing ticks always good for 70-120 handles... last time 100
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  • BruceM
  • 9-Jan-2009 at 10:12 AM
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highest volume bar low is at 93.75...no surprise the challenge here
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  • koolblue
  • 9-Jan-2009 at 10:13 AM
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long here at 892.25....
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  • pt_emini
  • 9-Jan-2009 at 10:14 AM
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  • Posts: 1,941
quote:
Originally posted by PDQ

quote:
Originally posted by pt_emini

this is gonna make one hell of an IB !

wonder what the 2x IB will project to ???
PT, can you explain this (IB) when you get time? Thanks!


IB stands for the "Initial Balance"

It is a term / concept used by the Market Profile folks to describe the range of the first two 30 minute TPO's (rotations) of the market. In laymans terms the IB is the range of the first 60 minutes of trading in the day session.

Today, the first rotation was 22 points wide... lol, and we are currently in the second rotation which is retracing the first rotation.

Wide IB's (like today) tend to lead to consolidation and an early development of the day's value area. Narrow IB's tend to lead to range expansion and trend day's, where these 2x IB projections come into play.
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  • VOwater
  • 9-Jan-2009 at 10:15 AM
  • Rep: 133
  • Posts: 4,121
shorted ym @ 8593
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  • VOwater
  • 9-Jan-2009 at 10:16 AM
  • Rep: 133
  • Posts: 4,121
stop on ym 88
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  • PDQ
  • 9-Jan-2009 at 10:18 AM
  • Rep: 110
  • Posts: 167
quote:
Originally posted by pt_emini

quote:
Originally posted by PDQ

quote:
Originally posted by pt_emini

this is gonna make one hell of an IB !

wonder what the 2x IB will project to ???
PT, can you explain this (IB) when you get time? Thanks!


IB stands for the "Initial Balance"

It is a term / concept used by the Market Profile folks to describe the range of the first two 30 minute TPO's (rotations) of the market. In laymans terms the IB is the range of the first 60 minutes of trading in the day session.

Today, the first rotation was 22 points wide... lol, and we are currently in the second rotation which is retracing the first rotation.

Wide IB's (like today) tend to lead to consolidation and an early development of the day's value area. Narrow IB's tend to lead to range expansion and trend day's, where these 2x IB projections come into play.
Thanks for the explanation PT. I actually look at the range of the first hour, but didn't realize there was a more technical term for it. lol
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  • koolblue
  • 9-Jan-2009 at 10:18 AM
  • Rep: 48.6k
  • Posts: 16k
1 min projection is 897.50,unless 887.75 is touched again...
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  • VOwater
  • 9-Jan-2009 at 10:22 AM
  • Rep: 133
  • Posts: 4,121
were goning higher
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  • koolblue
  • 9-Jan-2009 at 10:22 AM
  • Rep: 48.6k
  • Posts: 16k
by the way, that little retrace was .618 from 894.25 to the low...
quote:
Originally posted by vast524

Prestwick. Are you just reading this by the Dome and the T&S chart?
Regards

The singles were from the pit session TPOs. The read on big money net position is from a BAV chart.
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