ES Wednesday 11-19-14
Yesterday we hit both the 1/2 band and the 1 band SD numbers with the markets finally running out of steam at the 1 SD number.
Click image for original size
O/N low is 1 tick above the volume VA and currently they are fighting out to defend the time VA at 46. Both have been defended so far.
I think if they succeed at it, they will try to go for YD highs
If not, I think they will try to go fill in those single prints from YD
I think if they succeed at it, they will try to go for YD highs
If not, I think they will try to go fill in those single prints from YD
here's how I have it...didn't get to mention that I also have a 2055.25 - 2057.50 as a confluence zone above and on a big rally post report then I have 2062-2064.50.....but so far the big plan is to use 2046 - 2047 as a magnet in early trade and try to put trades on 2 points or more away from that magnet...here is a video for those interested...I'm also revising comment made in the video and will use 32 - 34.50 as another zone under the 39 zone...
and here is a quick pic of current week against upper part of last week with key zones marked
and here is a quick pic of current week against upper part of last week with key zones marked
Click image for original size
starting small sells in On at 48 print....plan in rth is to use the 49 - 50.25 as one zone and then use the LVn and time VA high as another zone.....so that is 51.50 - 52.75 as second zone.......so these first two zones above are close buy....so we can either trade big with a tighter stop in each zone or trade small and look at 49 - 52.75 as one big zone and add on inside the bigger zone........as usual this will all be better if the O/N midpoint has NOT printed before we put on our trades
Looks like it is going to be a close call. Hovering a lot around that 47
Looks like an open drive...
Aladdin, at what point did you decide to take the short and identifying it as an open drive? Or are you still waiting to get in?
took only one trade in RTh and that was down in the 42.50 - 44 zone...I may try one more but small as I know if this gives way they back to 39 they will push it.......also note how that 46 was a better first target and waiting for 47 on the long trade would have failed you....always get out sooner than later...they are trying figure out last weeks high again....so it is no surprise our zone encompasses that
When price could not get back into yesterday's VA, I recognized a possible open drive.
I'm now short 2045.75 (but I still do not know if this is a valid open drive).
I'm now short 2045.75 (but I still do not know if this is a valid open drive).
not trying any more longs...prefer if I could to find a short for that 39 but not really my style
Developing value is O/L lower.
Originally posted by Aladdin
Originally posted by NewKid
what are you using for a target?
Target is 2035.50 (O/N low on 11/18)
I'm still not sure if today is a valid open drive, so I will exit my short at 2045.75 or 2035.50 (whichever comes first).
close/buy @ 2045.75
That is it for me for today.
Have a nice day, everyone.
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