ES Thursday 9-28-17

all time highs have poor highs ...magnet price for me is 2502 off the 2500 and lower area......95 % of the time we will get a floor number so think of that, think of plus and minus 4 , think of 1/2 sd's.....here is how I see it and if you have time watch volume video which I will be adding to this post after I make it...good luck today...


hard copy of key lines off my favorite chart...Note I have kept magnet zone in place that we had snapped from the other day...they have tested down into that zone on two different days so that is the area bears would really have to take over to make anything happen



volume spikes...I thought yesterdays were fascinating...so if you have time then give this one a watch to stimulate some ideas for yourself..this also goes over a plus or minus 4 idea and another gap in the data..

cash would have to go to 2512 or down to 2501 to basically reach the 86 % number today

plus or minus 4 is 2505.25 or 2497.25 on ES...

I'm on second long campaign after triple reversal of OR will explain when I can

triple flip of OR.........next i will catch bullets in my teeth..LOL....

Originally posted by BruceM

I'm on second long campaign after triple reversal of OR will explain when I can

so far the only volume that is seen is volume that comes in as we pass through the pivot number at 2502

at least on this short of OR the cash came with it...that would be better for breakdown traders in theory...for me I'd be concerned about the lack of volume and the possibility that they want to keep dragging it back to 2502...so this wouldn't be ideal for me to get short...I'd still rather press longside

With you Bruce. Long at 02.50 Tgt +4 05.25 ..gl

I'm sorry if anyone took losses with OR trade today but it's also important to see how systematic or mechanical trades can and do fail......as a breakout trader or stop and reverse trader one always needs to figure out if they can handle the days that whipsaw....like today......in the long run the Or trade idea is a good method but you must decide if days like today would stop you from taking the trades tomorrow...and what would it be like if tomorrow is a loser.....if you read through the pitbull threads the person who taught me the method never traded in front of key numbers.......so he would not have taken shorts in the direction of that 2500 key price....just tossing that out there and not making excuses but like many things there are subtle distinctions that can be used as a filter......like volume and key numbers....

yeah...I'd like to see that get tagged.....for me 2505 will work and then I can get outside and get out from behind this thing

Originally posted by trader88

With you Bruce. Long at 02.50 Tgt +4 05.25 ..gl

I've posted this before...always good for a laugh ......especially with the triple OR reversal....LOL....

lots are frustrated......no overnight high or low has been run out either and the On high sits right at our volume magnet ( hopefully) from yesterday

u do rock. Thanks a lot for all the videos