ES Monday 3-23-15

Everybody is sleeping today-LOL! So I'll get 'er started.

+5 and -5 were successful

Lines I will have today include:

+/5 and 10 off open.

2106.75 Fri High

93.25 O/N low

1976.5 Fri Low

1952.25 FOMC low

That's it

Good luck today!!

Bands for the day. It is a new day and a new week so good luck to all!

TYPO CORRECTION

2076 Fri Low

2052 FMOC Low

Originally posted by Big Mike

Everybody is sleeping today-LOL! So I'll get 'er started.

+5 and -5 were successful

Lines I will have today include:

+/5 and 10 off open.

2106.75 Fri High

93.25 O/N low

1976.5 Fri Low

1952.25 FOMC low

That's it

Good luck today!!

Hi Big Mike you said that +5 and - 5 were successful, was that off todays open or some other reference point? Brent.T

Ooops just looked at your post time so it wasnt todays open then.....

Cheated a little this morning and split the difference between an area of lines and got filled @ 5.75. Almost thought I was going to miss it by being too cute.

Hope others rang the register.

Big Mike,

Today's open was 2100.25... add 5 to that = 2105.25... but at that price, do you just blindly sell or do you use some sort of price pattern?... and what would the target be for something like that short (assuming it was taken)?

what happens if price just blows through the (Open + 5) and runs to the (Open +10)?

Paul,
Normally I would have been set @ 05.25 but had O/N high and Friday's high nearby so I set @ 5.75 to mitigate a larger stop.

Directly to your question, I set limit orders at +/- 5 after the open. The reaction off those levels that I have seen over time IS the price action (for me anyway) If it blows thru 5 so what, it's a loser part of the game. i would try again at 10.

I have found when I try to avoid losers it just doesn't work for me, I trade my setup.
Targets are a scalp for a point on the bulk and runners looking for the nearest HVN to run for comfort-LOL (like today there was a composite HVN @ 02, so right in front is the ultimate target).

Originally posted by PAUL9

Big Mike,

Today's open was 2100.25... add 5 to that = 2105.25... but at that price, do you just blindly sell or do you use some sort of price pattern?... and what would the target be for something like that short (assuming it was taken)?

what happens if price just blows through the (Open + 5) and runs to the (Open +10)?

Big Mike, right now we're right back up at 2106.00 leel, is this a place you would re-short? What happened to the short you took at 05.75?

thanks for your explanation at 10:13 timestamp

I only take the level once (doesn't mean it's not a good level again but I don't trade it like that). My short was taken off at 4.75 and runners @ 2.50

Originally posted by PAUL9

Big Mike, right now we're right back up at 2106.00 leel, is this a place you would re-short? What happened to the short you took at 05.75?

Missed the Fri high trade due to posting but that's OK. The +10 is still up there and I'm satisfied to make one good trade per day.

Good luck all.