ES Tuesday 3-3-2015


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  • NewKid
  • 2-Mar-2015 at 11:04 PM
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Bands for the day. Good luck to all.
Click image for original size
iv030315
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  • NewKid
  • 3-Mar-2015 at 10:59 AM
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thanks for the explanation Joe
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  • CharterJoe
  • 3-Mar-2015 at 11:02 AM
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Anytime new kid. One more thing although I think this could be made into a system if A then B then short. I use it as a tool much like traders use market profile. Its just a way of understanding price action.
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  • PAUL9
  • 3-Mar-2015 at 11:05 AM
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Thanks for posting, Charter Joe
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  • NewKid
  • 3-Mar-2015 at 11:05 AM
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agreed. the more i trade, the more i am learning that discretion is important and it is hard to have just a mechanical system (not impossible but just hard). I see you use it, Bruce uses it, Dalton use it. Context is king. Everything needs to be taken into account while entering a trade and all these are mere tools in our hands
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  • PAUL9
  • 3-Mar-2015 at 11:06 AM
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3rd bracket is inside the IB...
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  • NewKid
  • 3-Mar-2015 at 11:08 AM
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as of now we have a selling tail but no buying tail either today or combined with YD. Very high chance that the low is taken out. Question is where would you enter the short? I am sitting this out
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  • pants
  • 3-Mar-2015 at 11:11 AM
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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
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  • CharterJoe
  • 3-Mar-2015 at 11:13 AM
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fresh march lows
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  • NewKid
  • 3-Mar-2015 at 11:14 AM
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action seems sluggish. do we get back into YD range?
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  • CharterJoe
  • 3-Mar-2015 at 11:16 AM
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id say odds are good gonna try some longs at 103.50
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  • bhmoney
  • 3-Mar-2015 at 1:12 PM
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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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