Tuesday, 18 September 2012

Yesterday's ES

Yesterday was a classic MP day. Seeing the last split from Friday's Profile was crucial to trading yesterday. 

I drew in the horizontal line "1" on Sunday as a make or break point for the day. The line held for most of the session as price bounced off it.  Selling the POC at "2" wasn't really possible as there was no real confirmation, but the retracement to a couple of ticks lower in F period was the sale and trading it down to the "1" line. After watching that line being attacked for so long, selling it was the way to go, covering at  the POC of the split of 09/13 or it's VAL-ish.

Markets trade in distributions and trading these distributions using the timing from the bar chart is a great technique. Context is king.

1 comment:

  1. jenrique42

    Today my trade in the euro


    however, although it has gone well, the trade, I have to say it was pretty risky, but seeing the market situation, they wanted to turn around, both the SP and the dax, and being in daily minimum, me seemed that the idea was good, a) if you're looking for the minimum of the trade location was perfect, I expect a PB course, but if the input is good this minimum would have to be respected and b) if it had not flourished the stop was tight enough, as one or two ticks, the minimum input of sailing


    mi trade de hoy, en el euro


    sin embargo, aunque me ha salido bien, el trade, tengo que decir que ha sido bastante arriesgado, pero viendo la situacion de los mercados, que querian darse la vuelta, tanto el sp como el dax, y estando en minimos diarios, me ha parecido que la idea era buena, a) si es el minimo que esta buscando la localizacion del trade era perfecta, por supuesto espero un PB, pero si es la entrada buena este minimo tendria que ser respetado y b) si no hubiese prosperado el stop era lo bastante ajustado, como uno o dos ticks, del minimo de la vela de entrada