ES Friday 8-2-2013

nothing great setting up today but a strong probability that they will print 1700.50 in the rth session....

first support point is 98.75

94.50 - 95.50 is secondary and 90 - 91 is the third level


I'm hoping we don't open right on our magnet....I'd prefer to see it open lower or higher that that 1700.50 so we can use that as a target


above all I have is 02.50 - 03.75...that's too obvious...best to see them run out that On high and day session high and then come back down for the test...so the fade would need to be beyond those highs...if you want ann additional trade today...I want magnet trade first...


I'm going in now at the 99 in O/N session..but will be more aggressive in day session down near that 94 - 95

got day session 97.50 long...watching 98.75 test first to be safe

better trades will be if they can push out that On low and then we can try to use 98.75 again for the first target..

I'm still confident in the 1700.50 but we can't be stupid either based on a probability

for me I am trying again under 96.50 and front running that On low

gotta take something at the 98.75.....runners can try to be greedy for the probability of 1700.50

bruce good read on 1700.50.. i vote u up but using old browers wont let me..can i ask u what is the max stop u use on a trade?

that's it for me...it's friday and they played well today.....would like to post more charts and videos but having machine problems that I post to the forum with,,,hoping to get back up to speed soon...hope all have a great weekend

thanks for the votes of support and more important I hope the ideas/levels are being used to make ya money and increase your understanding of the market....I know my posts haven't been as explicit today but I have limited resources to post with currently without jumping to different machinea and driving myself crazy...nuff said


THANKS again !!

duck...my stops are different based on the setup...this summer I am wider due to to the low volatility...I usually like the 1.5 - 3 point range......in normal volatility i will take usually up to 3 tries and don't like usuing more that a 1.5 point stop per try...this summer isn't normal by any means

How did you arrive at 1700.5 being your magnet?

Thanks in advance

APK

Apk.....look at yesterdays close and the Ib high from yesterday.....then look at the overnight price action around that area...the ledge that formed...


and as usual I always hear the voice of one of my trading idols whispering "Failure to hold outside the overnight range targets the overnight midpoint"......so we are mindful of that given the right price action from the previous day and coordinate that with what has happened overnight.....

so a big thumbs up to Dr. Brett.


then I add the sum of the squares , divide by 3.14 add the ages of my 3 kids and see what moon phase we are in !!!

Naturally I'm only kidding in bold.....have a great weekend my friend and let me know if that makes sense

it does, thanks a lot