ES Friday 2-6-15
57.50 equates to cash 4 pm close...fyi
started small rth shorts at 61.25 ...hoping 54 - 55 is still gonna be the ultimate magnet after they resolve YD highs again...gonna take something along the way
scaling heavy at 56.50...will try for 55 on final...that is where report volume came in
so far the market is wedged right between the 57 and 63.5 greenies mentioned earlier in the post
30 min VPOC @ 59.5
runner stopped and trying new sells at 61.25..interesting battle as our 60 - 61.25 splits the computer session high and low in half...and they will get one of those today..problem here is they are also digesting the break from the high of 1-5 week...that 61.25...I think that is what is creating the chop...will target YD highs but don't have a great feel on this and there is still untouched greenies that are part of On session
at this point is seems more likely to push to my 63.50 greenies rather then the ones at 53.75...but will see ..I also have todays greenies at 59.50...another reason for my target there
adding at 63.75...61.50 is now target...keeping this all small...i know on high is nearby and will b last add point
revising initial target to 62.75 to split difference on entries and a ltn is there
67 - 68 is a major area I will work if it prints today....last months high...premise on this trade is I expect multiple tpos on a weekly attempted breakout from week of 1-5 ...so we should see more tpos on 30 minute at that price...only two so far...and a speaker at 12:45....could be wrong but I don't expect a major rally with those two things happening
daddywolf, see the attached picture. i was referring to today's MP chart. Look at periods H and I. I came within 1 tick of H's low and rallied back to out of YD range. It tested the critical 61.25 level, made sure there was nothing there and came back to repair that poor low in the K period. We were in the J period when I wrote that post.
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