ES Tuesday 1-31-12

Magnet price zone is 1312-1314.50 as this is the weekly OVERNIGHT open, fridays VWAP and more important is the weely pivot .

This is a market that is trying to balance as we had last weeks close near it's open and we broke the lows of last week to stop one time framing up on the weekly..


Preference is to sell up into the 1317 - 1319.50 area...buys come down in the 1308 - 1305 area....keeping in mind the 1312- 1314.50 magnet...

Above there we have low volume that begins at 21 but I'd prefer to see what happens at 24.50 - 26.50

reports today!!

Ah...u folks have good eyes and stumbled upon my super secret formula...LOL...while the rest of the world is looking at 30 minutes ( And I still do too) I run my numbers with a one minute tpo chart...really brings the areas to life.....then I put my volume profile over it...makes the numbers come alive.....

so my "time per letter" is set to "1" instead of 30...so we can capitalize on the time equals value concept better and can see congestion ( means) and breakouts more clear....


the real keys to each bell curve will have a good mean and some volume on the volume histogram....

so think of each bell curve as having a key price where volume comes in to push price out and then a key low volume area where others hop on board and try to ride in the same direction as those who created the big volume near the means.....when all hop on board we get those low volume areas....we need to keep track of both for each separate bell curve..

nice work to both of you.....very observant...!

THANK YOU

You have a lot of patience

thanks bruce, i have a question; for example for tomoorow's session do you look at just today's or do you incorporate the past few days that have had trading in this area ? i also noticed that you add numbres from the o/n session so i guess you incorporate that as well

Thanks for the video tutorials Bruce. They are very helpful!

Nick ...I don't pull apart the overnight session like I would the day session... i think knowing the O/N high and lows and the peak volume price is usually enough...most times the overnight uses numbers from a previous day session anyway....you do want to know points where volume came in from those 8:30 reports too...( forgot that)


Merging profiles is FUN and can provide some context but isn't needed
...most of us here are day traders and know where previous highs and lows are...sometimes I like to look at a weekly theme but prefer to use vwap for that....there are plenty of setups each day with just the previous ranges and numbers from previous day sessions only...

That guy FT71 spends loads of time with these big volume composites and spends tons of time with a bigger view yet he rarely holds for big moves..why is that ?? u gotta wonder what all that long term work is for...I like and respect the guy as I do Tom Alexander but I don't REALLY see the need to do too much combining whether it is time or volume... ....sometimes when we are inside the previous day...creating an inside bar...but do we need to combine profiles to see extremes..?

It may help to combine as a beginner but over time you really won't need it.....it can provide too much information...I say just stick to the extremes and numbers from the day session...that is still where most of the volume is...


at times I too get frustrated when I see a big move Overnight but I really can't see staying up all night and ruining my life for that...

I think a lot of this comes from accepting who we are...for me, I am a daytrader and need to stay inside those parameters..

sorry for the long winded reply and speech...didn't mean to ramble

as always, i really appreciate your response

have a good night

and thanks to all for the positive feedback on the videos etc...