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I am seeing a very balanced profile with the VPOC bang in the middle of an 8pt range with virtually the same volume above and below. No drive yet.

 

Ah yes, well ETH and RTH profiles are similar but the RTH profile is as you mentioned almost a perfect normal distribution--I was looking at ETH profile.

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Indeed. Although the volume is mostly below the open, it's also mostly above the 1252 ON low and low of the day so far was stopped by minor low vol on big profile/psychological 50 area. If I have an idea and it isn't working, I try to step back to consider why.

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I actually tried a long at 52 for -3 ticks a few mins ago btw

 

I think given the nature of how the day has gone so far (range), that it's to be expected that any push down will be countered... looks to me like consolidation before another try

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I'd agree. Although the one thing that would maybe make me step back is that activity is very low and it might be easy to manipulate. If you think it'll stop at 52, it'll stop at 49, if you think it'll stop at 49 it'll be pushed to 44. Most likely, this is the kinda trading that if you are on the wrong side, you'll get knocked out of the trade right on the turn.

Edited by TheNegotiator

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After a stronger close yesterday, ES overnight has tested a decent amount lower than the 37 area of importance(down to 34) and pushed back higher on some decent figs. My question is, can we get back and hold above yesterday's close at 1252.00? I want to see whether there's any conviction either way on open and in the early part of the session.

 

attachment.php?attachmentid=26679&stc=1&d=1321366701

5aa710b530272_MondaysTrade.thumb.JPG.45fa26f2260abb5d480a672370abdcb0.JPG

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A couple of interesting prices on the chart for today if ES pushes back up at all from here. 1249.00 VPOC was the same as Mon and 1253.25 was IBH, low vol and low of selloff into close. It's also quite possible that we test/close gap to 1237.00 area in RTH and then 1229.75. Beyond that it looks like 1220-22 might be the next interesting area. That said, a bit of news right now may come out and the ES blow through all its nearby levels. Trade what you see :)

 

attachment.php?attachmentid=26691&stc=1&d=1321453513

5aa710b569187_OvernightFun.thumb.JPG.b28295ad3a4a500a36696d7a8061fef1.JPG

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I inadvertantly(read:stupidly) forgot to extend my current balance profile.

 

This is what it currently looks like less action so far today:-

 

attachment.php?attachmentid=26692&stc=1&d=1321455624

 

If you had traded it without the extended balance profile and lost money, you could have blamed it on the oversight. If you made money, you could say it was keen insight.

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If you had traded it without the extended balance profile and lost money, you could have blamed it on the oversight. If you made money, you could say it was keen insight.

 

What's your point MM? I was trying to point out two things. One, the balance profile's VPOC was 1248.50 slightly out from the 1249.00 Mon&Tues VPOC. This shouldn't really have made too much difference to any trade someone might take. Two, the additional volume which has accumulated between 1241.5-51.50.

 

I didn't say I traded it, I didn't say I didn't. I also posted the update as soon as I saw the reaction to 48.25 and realised the profile was wrong.

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Hi Negotiator

 

This may interest folks...I use a screen that displays the DAX and ES side by side

 

Although there have been some problems associated with the Euro crisis, the DAX does help me get some visibility as to direction..

 

The attached screen capture shows divergence between DAX and ES here at the end of the

morning

 

Good luck in the markets

Steve

5aa710b5d8434_DAXvsEStoday.thumb.PNG.6e1e0563eff1fd8126e2483903ba6301.PNG

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Hey Steve,

 

It's definitely a useful thing to be looking at esp when Europe is a big focus right now. For anyone who doesn't know, the Dax is the German blue chip stock index. You also saw a similar divergence in the Euro FX.

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Is that a 3 minute chart N?

 

An IRT question N: how do you get the current profile in IRT to display to the left of the little triangle which is the right edge boundary? Mine shows flush against the price column and overlaps with my reference line boundaries. For example, your "Open" is to the right of the profile, whereas mine is on top.

 

Edit: on a trading note, I was also waiting to see reaction at IBH. Broke below, yet a bit hard to read overall for me at the moment.

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Yes it is a 3min chart. There is a little bit going on in the area. I wouldn't say it's broken properly. For me, to break it has to push beyond and continue. Here, it just poked a couple of prices. I think we need to see what its next move might be before doing anything.

 

On the IRT chart, if you mean the space between the profile (if it's set to right align) and the price axis, just hover over the tiny black triangle which is on the x-axis(time) next to the y-axis and drag it to where you want it. (if that makes sense! :))

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