ES Tuesday 3-3-2015


  • 3
  • NewKid
  • 2-Mar-2015 at 11:04 PM
  • Rep: 16.5k
  • Posts: 1,915
Bands for the day. Good luck to all.
Click image for original size
iv030315
  • 1
  • NewKid
  • 3-Mar-2015 at 11:56 AM
  • Rep: 16.5k
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Pants, I was thinking of taking the long as well but the fact that it went down so hard and that it was having a hard time getting back into value, made me question it and stay out of it. i think the way the market approaches a level is definitely important. you are correct that if instead we had wandered down and then see buyers come in, that would have been ideal. that is why i think purely mechanical systems are difficult because they do not account for how the market got to a level, which is very important

Originally posted by pants

Good stuff newkid...here is what I did (between the two of us we really botched this trade :-)...you didn't take the proper set up...I took the opposite...twice)

I was hoping to get to val and the edge of those singles...the fact that it came down so hard/fast to that level confused me...wasn't sure what to do...felt like I had to trust the level...did..3 tic and 4 tic losers. Sadly couldn't take the bounce off 2103.

If the market had wandered down to that level instead of dropping fast...would that have made a difference?

I X'd out a trade on the pic, please ignore. The pic just shows the single prints.

Click image for original size
what could go wrong

  • 0
  • bhmoney
  • 3-Mar-2015 at 11:57 AM
  • Rep: 60
  • Posts: 16
nice call bruce 2100.50 filled
  • 0
  • NewKid
  • 3-Mar-2015 at 12:00 PM
  • Rep: 16.5k
  • Posts: 1,915
good long trade Bruce. it made sense because that break down seemed to be just liquidating/running out stops rather than actual selling so it was logical that the market would come back up. Nicely seen and executed!
  • 0
  • BruceM
  • 3-Mar-2015 at 12:39 PM
  • Rep: 216k
  • Posts: 19.9k
thanks...that made my day...while not a great day from a profit perspecive it turned out ok even if we had to put in some Overtime today,,,,, there's 3 tpo's at last weeks low now...very cool !!
  • 0
  • pants
  • 3-Mar-2015 at 12:44 PM
  • Rep: 100
  • Posts: 30
NewKid...so true...good on your for passing, smart!!!
Can't wait for tomorrow.

Bruce...you are a champ...great trading today...some curve balls, yet you still always seem to get on base and advance the runners.
  • 0
  • NewKid
  • 3-Mar-2015 at 12:44 PM
  • Rep: 16.5k
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the last bounce came right off of 95.5, the previous week's VPOC! Very cool
  • 0
  • bhmoney
  • 3-Mar-2015 at 12:48 PM
  • Rep: 60
  • Posts: 16
Originally posted by NewKid

the last bounce came right off of 95.5, the previous week's VPOC! Very cool


100% of yesterdays range as well
  • 0
  • NewKid
  • 3-Mar-2015 at 1:01 PM
  • Rep: 16.5k
  • Posts: 1,915
how so? YD range was 13.25 points but we did not go 13.5 below the low. Maybe you are calculating differently?

Originally posted by bhmoney

Originally posted by NewKid

the last bounce came right off of 95.5, the previous week's VPOC! Very cool


100% of yesterdays range as well
  • 1
  • bhmoney
  • 3-Mar-2015 at 1:12 PM
  • Rep: 60
  • Posts: 16
my bad, i was referring to the range of yesterday coming in at 97.50. But the 150% extension for me came in at 95.5. ie 50% of yesterdays range, 6.5 below yesterdays low of 2102 comes in at 2095.50.
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