ES Thursday 9-15-11

I see three distinct bell curves that I want to try and work from in the overnight ( if time permits) or the Thursday days session. I'll start with the low volume that looks most important at 1177.25- 1178. That is really the lowest volume hole that is surrounded by high volume on both sides of it.

so the high volume above that comes in at 83.25 and the low volume that comes in above there is at 87.50.

working my way down I see high volume at 69 - 70 and then low volume down near 65.25. That number I thought the market would retrace to as long as we didn't come outside the IB high so that is still in play.

then we have a minor high volume node at 62.50 but I'd prefer to use the low volume down near the 58.50 area.


above 87.50 I'd be interested in the 92.50 low volume area.

as usual the specific extremes of ranges are alwasy important but those are obvious so I'm not bothering to type them in.

lets see where the overnight numbers fall to confirm our areas.

any other trade for me would be a push into that level Bruce spoke about 1203-1205

starting to exit at 94.50...too close.....look at the highs of 9-08....then if you know that historically we have that 4 - 6 point move after the report comes out then you can see why that 97 area went on my radar..

tryingto hold last 3 runners for peak volume near 92.50.....gonna be a tough one I think

bravo as usual Bruce...well done

took two off at 92.25 and decided to try and hold last one for 87.75.....Reason to be greedy is this


a)it is my last runner
b) many times you will see those big volume spikes from overnight get tested and that spike initiated at 83.75.....so I think they may try for that eventually but I'll be out way in front of that at my next key area at 87 - 88


now all they need to do is digest this high volume node of 92.50...that is critical and probably won't break easy for me

thanks Nick...I just hope some are getting the logic otherwise these posts of mine are just trades without any learning...

Originally posted by NickP

bravo as usual Bruce...well done

i don't speak for others, but trust me it gets through

Originally posted by BruceM

thanks Nick...I just hope some are getting the logic otherwise these posts of mine are just trades without any learning...

Originally posted by NickP

bravo as usual Bruce...well done

when volume is symetric ( peak volume in the center of the range) there are many who will sell above the peak and buy below it looking for a return to the middle...

so that makes the idea of back and fill a bit more likely....so holding for a breakdown is much harder......this is my last runner and feel the risk is worth it as I don't want to initiate trades in here anyway

flat at 88.75...don't want to be tortured trying to hold for that last point!!

excellent Bruce

There were no single print trades today and no new single prints were created.