ES Monday 3-17-14
I'm wondering if that was truely weakness on Friday so I can apply my " weakness on Friday leads to early weakness on Monday"..idea..with that said I prefer to be a seller and use 39 - 40.50 as a magnet price today on any trade that is higher than 1843....Ideally I want price to be at least 2.5 - 3 points above the key magnet to make the trade worthwhile.....so even though it isn't snapped on my chart, make sure you know where Fridays VA high is too.. ....the possible key buy point may be at 34 - 35 ...that is snapped....and will have us initiate more than 3 points away from the magnet price...
I'm also watching closely 46.75, 50.50 - 52.50 and then 55.50.....60.50 is a key LVN price...further down is 28 , 23-25 , 18 and 14.50...not all shown on the chart
Good luck today...hoping to pop up a video later of a key volume profile concept
This will be my final thread for two - three weeks as I have to get caught up on some stuff and have some vacation plans
my plan is to look for shorts after 9 a.m as long as we can still use the magnet price.....I will keep it small in O/N and trade harder in RTH.....lets hope for a good start to the week...here is my crude but hopefully effective chart with the zones I'll be working from
I'm also watching closely 46.75, 50.50 - 52.50 and then 55.50.....60.50 is a key LVN price...further down is 28 , 23-25 , 18 and 14.50...not all shown on the chart
Good luck today...hoping to pop up a video later of a key volume profile concept
This will be my final thread for two - three weeks as I have to get caught up on some stuff and have some vacation plans
my plan is to look for shorts after 9 a.m as long as we can still use the magnet price.....I will keep it small in O/N and trade harder in RTH.....lets hope for a good start to the week...here is my crude but hopefully effective chart with the zones I'll be working from
look where time VA high is from last Thursday !!!..us bears want this to stay under 55.75 - 57.75....that zone includes VPOCs from last wednesdays trade too
runners coming out at 50.50 and lower edge of one of my key zones...I will hold two contracts...thiis is half back and developing days VPOC..may get retested above..so a gamble as to direction now....if lucky they will go back to 47 for me....that will take lucka and patience
coming out at 47.75...just so close and I am not convinced they won't come back up to 51.75 again....will try to hold last one but will trail it tight
went flat at 49.25...looking for small longs as I feel they will officially do the test of 51.25 - 51.50......if my eyes are reading things correctly then that test will come and soon...before 47 breaks...not say that 47 will break but that is an uncle point for me
still hate that 51 area....gonna stand aside now and call it a day but i would not be surprised to see yet another test of 51 area...this is obviously a key spot...see chart on page one..I think they are only gonna do one of two things now and that is rally from this spot back to the 51 area or we will sell off and go get the 40.75 magnet that failed me today!!
Good evening Bruce. I am fairly new to market profile and I was wondering how you enter at your support/resistance levels?
Do you wait for confirmation? a bar signal? candle pattern?
I'm getting good at spotting the support/resistance it's just when the market gets there I don't know how I should enter.
Thank you
Do you wait for confirmation? a bar signal? candle pattern?
I'm getting good at spotting the support/resistance it's just when the market gets there I don't know how I should enter.
Thank you
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