ES 8-29-16
here is how last week looked as per time: Magic number for me in early trade is 68.5...key numbers for me will be 72 - 74 on upside and 64 - 66 on downside. 98 % chance we get either the overnight midpoint or one of the extremes of the overnight....will edit this to add more if I have time before rth opens
I like the idea of trading for the 68.50 as long as 72 - 74 holds back price...we have Overnight high up at 72 area now too...
I'm going to copy and paste some pitbull ideas into this post just to throw out more ideas
I have pitbull threads on the forum based on open print but here is original ideas
pitbull basics
Method was based on big contract and the opening range was called in for. So my teacher
physically picked up a phone to get OR and it was NOT a time period.
Key ideas.
7:30 - 9:30 he called computer session
4:30 from last trade day to current 9:30 open he called overnight
a window run was when market went 2.5 points or more and then returned to the OR
A FULL window run was if we went 2.5 points above AND below the Open - he stopped trading after this
Setups - Wait for a computer session or overnight session extreme to be run out then this
1) If plus 5.5 hits then sell the plus 4 and target 1.5 points ( he always used 1.5 points on big contract)
2) If Plus 4 hits then sell the plus 2.5 and target 1.5 points
3) REverese if we drop down frist and take out computer session or overnight low first then look for buys
4) Exceptions.....if no range is run and we go at least 2.5 points up or down then it is ok to
sell/ buy the open print as long as you are prepared to add to a trade - this is the most aggressive
trades of all and prone to whipsaws
Click image for original size
I like the idea of trading for the 68.50 as long as 72 - 74 holds back price...we have Overnight high up at 72 area now too...
I'm going to copy and paste some pitbull ideas into this post just to throw out more ideas
I have pitbull threads on the forum based on open print but here is original ideas
pitbull basics
Method was based on big contract and the opening range was called in for. So my teacher
physically picked up a phone to get OR and it was NOT a time period.
Key ideas.
7:30 - 9:30 he called computer session
4:30 from last trade day to current 9:30 open he called overnight
a window run was when market went 2.5 points or more and then returned to the OR
A FULL window run was if we went 2.5 points above AND below the Open - he stopped trading after this
Setups - Wait for a computer session or overnight session extreme to be run out then this
1) If plus 5.5 hits then sell the plus 4 and target 1.5 points ( he always used 1.5 points on big contract)
2) If Plus 4 hits then sell the plus 2.5 and target 1.5 points
3) REverese if we drop down frist and take out computer session or overnight low first then look for buys
4) Exceptions.....if no range is run and we go at least 2.5 points up or down then it is ok to
sell/ buy the open print as long as you are prepared to add to a trade - this is the most aggressive
trades of all and prone to whipsaws
Usually 2 points or 2.25. I asked, nobody hung around for 2 today. 78.50 sure felt like enough.
Originally posted by BruceM
big mike...today your friends are getting tortured too to get 2 points off 15 minute high but I think it will come.....real question is where do they set their stop on wrong trades.....? what would be their loss point if market goes against them?
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