Bob Dylan said it all. I have been reviewing the ES during the period of December 15 to December 31 and saw lots of good if not great trades.
Thursday's trade is an example. In fact, it was one I could not resist.
The trade was a great setup. We saw a new high in the ES, the 45 CCI came down below +100, VB went SELL, price first bounced off Wednesday's VAH and then penetrated it giving a great trade. The so called MP 80% rule, modified a bit to fit what I do, was perfect. As you can see, I did not scale out at the usual 2 handles as I wanted to do the first scale at the VAL. In fact, I took all of it off there which in hind sight was early but this was New Year's eve and gift horses came to mind. On other days I would have only taken the first scale as the CVD was heading south quite clearly after a new high.
Looks like the Xmas/New Year trading is getting better. Maybe the 2010 holidays will be worth watching.
And here comes 2010, a number divisible by 3 - my kinda year.
And here comes 2010, a number divisible by 3 - my kinda year.
Are ou using 1 range charts instead of 1.25 range charts? Or it depends on the day?
ReplyDeleteHello Boss,
ReplyDeleteNice trade, as well as explanation on how Market Profile VAH (value are high) came in to
play.
He is MD’s description of the
80% Rule for any of my brothers (and sisters ;o) in the EL pit.
Thanks,
Rino
Ceschiatti, I always use 1.25 but if i.oo or 1.50 looks better to you, use it.
ReplyDelete