ES Friday 12-19-14

here are support and resistence and zones...also the greenies magnets......REMEMBER : the Overnight midpoint was not hit in Thursdays day session .....strong probabilities we will hit Thursdays Overnight midpoint in Fridays day session.....less than 3% chance of it not printing

hope all have a great weekend...I'm off to shop for the holidays....with the rest of the world !!

you too Bruce have a great weekend

As per Dalton there are 3 exceptions to trading with value:
(1) when the market breaks out of previous day range and comes back in
(2) when the market goes from rotational environment to one-time framing
(3) balance bars inside the day; you can take the breakout of this balance against value

So although value is now developing higher compared to yesterday, I'm using exception nr.1 as ruling reason.
I'm going try one of Jim Dalton's signature trades today: price broke out of yesterday's day range, but enters yesterday's day range again.

They might want to test yesterday's set of single prints 2055.25 - 2047.50 (and maybe 2045.50 -2044.50).

I will keep in the back of mind: "Any time you fade value you must be right very quickly".

Thanks Bruce you too. have a great time with those xmas crowds :) and a big thank you for all your time spent on here esp like the info you are now posting re:- O/N and next day.. I,ve been back reading the posts and trying to get the hang of how you get your numbers , it still eludes me... (possibly i,m not using the same charts etc)
regards Brent.T

Aladdin,
I am trying to understand how you may apply Dalton's concept. After it trades back into yest range which it has and now moving out of yest range, are you looking to fade up here trying to play for single prints from yesterday or what? I did listen to most of his webinar yesterday and was impressed with his ideas.

Thanks,

Sharks

Not speaking for Aladdin, but here's the way I see it. Using a 1:59:59 pm close, the rth h YD was 56.75 and the close was 56.50, which was the pivot at 7:45am. If it trades back below that level, you could look for a retest up to 56.50/56.75 and fade the retest. You would have single prints for about 7 pts. down.

Sharks, right now price is above yesterday's DH.
Should price come back into yesterday's range, there is a chance that they might want to test some of yesterday's single prints.

As Dalton often says: "Trading is about odds".

I did remember him saying that yesterday...


Thanks Aladdin

For those interested, here are some statistics on 30-min VPOC retest.

http://www.mypivots.com/board/topic/8297/-1/30-min-vpoc-testing

A pivot point study as well.

http://www.mypivots.com/board/topic/8298/-1/pivot-point-study