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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)
 NewKid 
Boulder, CO
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 29 since Oct 2014
Thanks Given: 35
Thanks Received: 33

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)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

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)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176


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)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

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 https://www.evernote.com:443/l/AgdA536SWbxIf7CdPx5z7pSGmPiQtphMBiE/






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  #55 (permalink)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

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

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  #56 (permalink)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

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)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

Better image

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  #58 (permalink)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

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)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176

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)
 futurestrader 
Houston, TX
 
Experience: Intermediate
Platform: MarketDelta
Trading: ES
Posts: 215 since Oct 2010
Thanks Given: 79
Thanks Received: 176


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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