ES Tuesday 2-3-15

Bands for the day. Good luck to all.

welcome new member "Pants" from yesterdays thread....u asked about greenies......they are nothing more than evolving Vpoc using my IB data...I like the greenies that haven't been retested the same day......also keep in mind some have different Volume points due to data feeds......what ever works for you...I also like them more as magnets......here are the ones I mentioned in the video.....a basic rule which came into play is this " If greenies get blown through and there is no reaction then quite often the market will come back to retest them....." So today we blew through the 26.75 on the open......so u can read my comments and trade direction in todays thread....that is one reason I was shorting into other prefdefined areas.....


so we either get some reaction at a greenie to trade from or we blow through it and come back to test it.....

note on today chart we have a greenie that is forming FROM today at 30.50...so we may be able to use that for future days ...I didn't snap a line there...the others are from previous days as per the video....and for the reord I thought today was a difficult day for grenies due to the buying that came in off the open

if you look at time right now then you will see that this market is very well balanced a failure at the new highs up to the 37 area should head on back to 31 and maybe even the center of todays range...and if I am way off then they will push for 2040 and 43.50

here is the balance....will they break away from it or revert to the center?

and I don't want anyone to think I forgot about Market profile.....that stuff is a GIVEN... I don't write about it as much but look where the selling tails and time va high is from 1-28....

"It's all about value and ranges" that will always be true no matter what kind of Greenies or price action lines we throw up on the chart

its funny you mention that. i am currently taking Dalton's class and what i am finding out is that if you take your Market Profile concepts and mix it in with the greenies/price action stuff, it is very potent and makes for an excellent trading plan

Originally posted by BruceM

and I don't want anyone to think I forgot about Market profile.....that stuff is a GIVEN... I don't write about it as much but look where the selling tails and time va high is from 1-28....

"It's all about value and ranges" that will always be true no matter what kind of Greenies or price action lines we throw up on the chart

Bruce,
Were you thinking of 40.5 because it was a HTN and 43.5 because it was a LTN on the monthly chart?

Originally posted by BruceM

if you look at time right now then you will see that this market is very well balanced a failure at the new highs up to the 37 area should head on back to 31 and maybe even the center of todays range...and if I am way off then they will push for 2040 and 43.50

yes new kid but the one SD band on the WEEKLY was 2040 also and look at just your price action with the one minute time histogram at those levels from day session of 1-26.......so I always want to confirm all these areas and not count on any one thing...there is strength in numbers...confluence..

i keep losing track of the weekly volatility numbers. got to have a better way to keep an eye out on those. charting too many lines messes me up so putting them on a chart is not working out so far...

Bruce...very cool of you to post those vids and thanks for the explanation of the greenies.
I'm kinda drinking through a fire hose with the profile stuff, but getting the hang of the areas to watch for.

Thanks again!!