ES 8-16-16

Magnet is 83 area again and am trading for that now...the overnight hit into my other numbers mentioned yesterday too at the 80.50 and I also have a line at 79.25.....no midpoint test yesterday so I expect that to happen today.....so taking longs at 81 or less is ok here in pre market but keep in mind that we could still drop lower and create a lower priced midpoint...

74 - 75 is another area on downside


EDIT: 39 years ago today I was on Vacation in California with my folks as an unfocused 15 year old....one morning I woke up and my mother was in tears......The KIng was gone.....so here in honor of that....I give you the king...where were you ?

https://www.youtube.com/watch?v=v6UJLZOGOMk

two ticks from minus 4 number..lol exit one at 78.50

how the OR helped me today...I had a long in overnight and reversed to short after the OR low broke....you can see how nicely the minus 4 hit...from here I will take small longs if we can get weak selling on a retest of the 79 - 80 area...so I would need to see that area trade again, then price retrace down on low volume and then look for longs to try for midpoint of overnight

i got OR 82-80.75 minus 4 is 76.50 you got something different?

well, trying long from 78.75....this is small and higher risk because we need to get through that 79 - 80 again but part of my plan today is still that overnight midpoint

I count minus 4 off the open print of 81.25 and not an extreme range of the OR

so minus 4 to me is 77.25

yikes other mistake my bad..

taking one off at the Open print and try to hold last for new high of RTH ...otherwise done for today

long at 81.50 cause OR broke to upside..

breaking rules already or am i..i use 1.5 stop which put it at 80 but it broke OR low..so i should be short right ? what you think bruce?

Duck,

The 12:02 post of bruce's is gold for you.

Taking today for instance,

Long @82.25, stopped out @80.50 1.75 loss
Short @80.50 stopped at @77.25 3.25 win

Net + 1.50 on the day and walk away.

On a day that didn't start your way, you're up 75 per contract. Better than a sharp stick in the eye as they say.

Let me say a few words about Bruce. He has an uncanny ability to keep track of his levels in real time. While the levels are determined ahead of time, being able to use them correctly is NOT easy. Not many can trade like Bruce, take my word for it he is in the top X% of retail ES traders IMO. Trying to emulate him will be detrimental to your progress IMO.

Take some nuggets from here and apply them to a simple mechanical type of trade, after you've mastered that setup (6 profitable months in a row), then you can try to add a 2nd setup.

For immediate confidence on the OR trade, here's what I would-have- done. Take a years worth of 1M charts and plot all the trades. 1st trade goes, you're done. 1st trade bad, take 2nd break. 2nd trade does, you're done. 3 trades max.

Then drill down and see what your returns would be after filtering. Filtering fro what? Is the open outside of YRTH range, how does it do after NR4-7 days, WS 4-7 days? Anything speak to you? That's how you would trade it. Do not feel the need to trade every single OR, there is plenty of money to be made on 2 points per 10 trade per month.

Good luck.