Sunday, February 15, 2015

Week in review.

Here is last weeks trading review.


On Monday we had the Bull Bear zone at 52.75-54.75. On the open ES did not retrace back to this level for a short. On the downside we had support at 39.50-38.50 and as the trade plan said we needed a good intraday setup there. At the time of reaching the zone ES had broke out of the intraday balance and looked like momentum had swung to the downside. So there was no Long trade here.
No trade opportunity's on the day.


On Tuesday ES opened at the 52.75-54.75 resistance. When ES opens within i zone i tend to look at a smaller time frame to judge if i can get in on the trade. ES didnt give me the opportunity on this occasion. However when we reached the 49.50-47.50 bull bear zone the internals were showing an exhaustion once ES had settled within the zone so there was a good trade opportunity long from around 48.50 with a target of going back to value around 51.50. Now there was no zone around gap fill on this occasion as a break below 47.50 could have seen downside momentum. However there was internal exhaustion down around the gap fill where a long could have been executed. Remember you have to be very open to changing your ideas on the market at key areas, The market is always giving us new information, this comes from the internals the daily profile and the previous action. So a long here around 44 would have been valid. The other trade opportunity on the day came from the automatic 65 zone short which gave good rotation late in the day and capped the intraday selling.


No zones were posted Wednesday as i was out of town. However 65-67 from the previous day would still have been a valid short with an intraday setup. ADSPD was severely lagging behind ES which would have been a good short entry at 65 targeting value. 52 would have been the automatic long zone but we did not get there.


Again no zones on thursday.However i did manage to tweet the 85.50-87.50 level as being the upside target. This capped the upside and would have been a auto sell late in the day. Giving a few points rotation. The gap and go above 67 was a likely breakout but would have been difficult to execute on a day timeframe.


On Friday we Opened at resistance of 85.75-87.75 and needed a good shorter time frame setup here to short. That did not materialize. We then broke above this zone and retested it with a higher imbalance and a long could have been executed here with internals exhaustion targeting 91s.
ES then rallied most of the day after filling the gap and was capped by the 93.50-95.50 zone which would have been an auto long at any other time of day.

Thanks and happy trading.

1 comment:

  1. Can you describe what "Internals showing an exhaustion" means? Thanks!