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1345.75 After that 1353.50

 

R

 

For RTH targets I have 43.50 followed by 47.00. 45.50 is there but I'm not especially interested in it. Above that I have 49.50 ish, 53/53.75 then 58/59.25. Have to see what plays out if it goes higher.

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I just noticed a possible problem @1295.75 so am redownloading data. Hopefully it'll finish b4 the open and I'll be able to repost the screenshot.

 

Doesn't look like I'm going to get the data in time. The levels I mentioned are the ones I am interested in though.

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Seems good to me. Thanks.

 

I did get the data but with the same result. At 95.75 there's a volume spike out of keeping with such a large amount of data. That kind of thing indicates to me that there may be a data issue, so will need to check after market close.

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1357.50 is both a NVPOC and a gap from May 7th

 

Expect price to get at least that far.

 

Market participants who were shorting the 53's now stopping the market higher.

 

Thank you.

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1357.50 is both a NVPOC and a gap from May 7th

 

Expect price to get at least that far.

 

Market participants who were shorting the 53's now stopping the market higher.

 

Thank you.

 

For 5/7, I have RTH close of 59.25 and naked vpoc @58.00

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That was using the "M" contract right? So what premium did you use to adjust the level?

 

I can't remember what the premium was for definite but it might of been 6.25 or something from memory. Don't quote me on that though. I'm just using dtn's continuous contract @ES# so it does the adjustment automatically.

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I can't remember what the premium was for definite but it might of been 6.25 or something from memory. Don't quote me on that though. I'm just using dtn's continuous contract @ES# so it does the adjustment automatically.

 

I carry the levels over from the prior contract and adjust manually... using the difference on the day. And I note that these levels are "adjusted" so anywhere within 2 or 3 ticks to me is enough to mark it tested.

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I was quite patient and ended up buying the test of the lows which for me was a retrace to the prior area of aggressive buyers. This was a great long and setup for me on both the EC and the ES. Time of the entries long was around 15:24 EDT Es went for almost 10 points and the EC went farther. I didn't get it all but got most as it really went positive quickly making it easy to trail my stop and watch the price go higher.

 

I realized that the initial push was likely to come back to test the lows but for some reasons I just didn't get short. But the wait was worth it. The BUY ZONE area on the ES I had marked was from 42.25 to 40.25 and was established on the rally at 12:41PM EDT.

 

The risk-reward on this setup was over 5:1

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I was quite patient and ended up buying the test of the lows which for me was a retrace to the prior area of aggressive buyers. This was a great long and setup for me on both the EC and the ES. Time of the entries long was around 15:24 EDT Es went for almost 10 points and the EC went farther. I didn't get it all but got most as it really went positive quickly making it easy to trail my stop and watch the price go higher.

 

I realized that the initial push was likely to come back to test the lows but for some reasons I just didn't get short. But the wait was worth it. The BUY ZONE area on the ES I had marked was from 42.25 to 40.25 and was established on the rally at 12:41PM EDT.

 

The risk-reward on this setup was over 5:1

 

Sounds like you had a blinder!

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Yesterday was a neutral day and neutrals often follow neutrals. What I will be watching for today is whether or not we end up showing signs of accepting the highlighted development as value and therefore trade it accordingly. If we don't rest/balance, then depending on which direction we're moving and with how much vigor, I'll have to assess how far I think we'll go.

 

attachment.php?attachmentid=29534&stc=1&d=1340283202

2012-06-21.thumb.jpg.3063fe74d11c97e9afc219138941737c.jpg

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What a drop yesterday huh? Clearly that upper area was not accepted as value at all!! Lol. I hope everyone did well. Anyway, no numbers today at all. Possible resting day after a big move like that but daily ranges are still big so don't expect a sub-10 point range at all. Let the market tell you what it wants to do not the other way around. Good luck.

 

attachment.php?attachmentid=29561&stc=1&d=1340374515

2012-06-22.thumb.jpg.4d6c4e68fe323c787a45b9b9ce78fce2.jpg

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Today is working as expected .. which is to say a rangebound market which is not expected to be like the prior day. Fade the extremes today has worked well for me. Short off the open and still somewhat short biased as I think a day like today is controlled by daytraders who are always looking for a gap fill. So I still expect us to sell off to the 1318 area and I am continuing my short bias until then. I have taken a long and been stopped once on it but hen got a nice bounce at 10:45 EDT which was a retrace to a BUY ZONE from 7:45 EDT and also an upsloping trendline. But we can't seem to get through the OSL.

 

Speaking of bias, I have marked on my chart that we continue to make Higher High and Higher Lows so my short bias is counter the trend right now. We'll see what happens.

 

Update: If we get above 1325.50 on a 5min close then i will forgedaboud the gap fill.

Edited by bakrob99

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Well we pretty much did rest on Friday with a break slightly higher later in the day. Overnight we have had a lower bias so far and the overnight vpoc so far is right at the 17.50 low from Thursday. That could be a decent place to start today. Above it and we'll be looking to test at the very least, Friday's low 1320.50 and then close the gap to 1325.75. Below and I'd think 1315.00, 1313.25, 1308.50/07.25 will be on the cards with the high volume at 1298.25 certainly well within reach.

 

Overnight we've had Spain officially asking for aid for its banks, Egypt get a new leader and Syria sail close to the wind with Turkey. Euro is again moving lower as is crude. There's an EU summit later in the week, 4th July holiday next then NFP's closely after. We have New Home Sales at 10am today.

 

My guess is that given the amount of news flow and proximity to the holiday, there could be some decent movement this week but squaring up into next. Gotta see what happens and take each trade as it comes. Here's a chart:-

 

attachment.php?attachmentid=29587&stc=1&d=1340629409

2012-06-25.thumb.jpg.53bce12fea2609e752c9c976f390eba9.jpg

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