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FuturesTrader's Journal - Trading ES with Market Profile
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FuturesTrader's Journal - Trading ES with Market Profile

  #51 (permalink)
Elite Member
Boulder, CO
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 29 since Oct 2014
Thanks: 35 given, 32 received

FWIW, I too trade just 1 lot and I had a short on from 17.5 as well. I exited at 15.5 even though my original target was the prominent POC from yesterday at 14.5

there will soon be a day ( i hope!) when i will have more than 1 lot on that will let me scale in and out


futurestrader View Post
Thanks. I would have held on to the trade despite new IF there was acceptance below 13.00. No change in sentiment made the decision to close the trade easy. Also, I trade 1 lot so I don't have the ability to scale.


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  #52 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

There is still no change in the market. Awareness about yesterday's afternoon pullback low at 2113.00 has saved me from getting stuck in the chop. Change occurs below this level.

The next trade that I will be interested in is Double Distribution in either direction.

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  #53 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

Trade screenshots from Friday 07-17-2015


I took 3 trades on Friday. I detailed the early morning short in prior posts on friday. Below are the 2 other trades that I took, none of them played out as expected.

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  #54 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

ES had a Gap up today and Overnight inventory was long. Liquidation followed after open and ES reentered yesterday's range.
Once yesterday's range was breached the destination trade was yesterday's low, however B period could not hold below ONL after 3 attempts and sellers threw in the towel

B,C,D,E,F,G,H one timeframed higher followed by inventory adjustment in I period. NYSE volem was lower than yesterday indicating day timeframe traders only.

Multiple buys at the previous period lows stuck out and showed mechanical buying (D, F, I lows were bought)
After matching with globex high's at 26.25 it was game over and no buyers were left. This was followed by liquidation in M period.

Today's profile left anomalies at 23.50, 22.50 and 19.50. Additionally today's low is at yesterday's halfback.
We also have multiple untested POC's and Poor lows below. Liquidation/Selloff looks likely at some point HOWEVER it is not over it it is over.

We are one timeframing higher for 8 days. Last 3 weeks are also 1tf higher.
We have no excess on Daily/weekly and monthly charts.

2129.50 is the pullback low. Change occurs below this level


More images at http://www.evernote.com/l/AgdA536SWbxIf7CdPx5z7pSGmPiQtphMBiE/

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  #55 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

Correction: 2119.25 is the pullback low. Change occurs below this level


Last edited by futurestrader; July 21st, 2015 at 09:59 AM. Reason: typo
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  #56 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

Premarket Report 07-21-2015

Overnight range is contained within yesterday's range. Overnight inventory is balanced.
As of 8:16 am CST we will open inside yesterday's range. 2119.25 is pullback low and change occurs below this level. Acceptance below 2119.25 targets the Untested POC followed by Gap zone.
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  #57 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
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Better image
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  #58 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

Short from 19.75. So far it has bounced from 1t above ONL indicating more mechanical buying.
Next move below ONL might trigger additional liquidation.

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  #59 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received

Profile becoming 3 wide in C period will decrease the odds of liquidation. Ideally I want to see C period leave a Double Distribution to the downside.
So far I am not seeing any larger time frame sellers at all.

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  #60 (permalink)
Elite Member
Houston, TX
 
Futures Experience: Intermediate
Platform: MarketDelta
Favorite Futures: ES
 
Posts: 208 since Oct 2010
Thanks: 73 given, 175 received


while profile is 3 wide it is one data point. Important thing is we have acceptance below Pull Back Low. Change is occurring.

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