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Thought I'd post a chart of FGBL here with a similar methodology to you guys.
Market made a good A-Up through the pivot (spring green dash dot line), got long on a near enough OR touch at 161.45 - would be looking to add on the recent touch of VWAP (red line).
We tagged yesterday's VWAP but it's still looking bullish - for those who are Market Profile familiar we had a very good low at the Eurex open with many single ticks. Looking for VAH target of yesterday 161.70 and weekly vwap (dark orange line).
I would have added on the VWAP touch but unfortunately I'm too small to add at the moment after recently switching strategies... will be topping up the account over Christmas ho ho ho so i can start scaling.
I'm debating whether to pull order at weekly vwap and hold for R1 pivot 161.81 as buyer has been reloading nicely on the DOM.
ETH finding support off yesterdays RTH highs but cldnt break ATHs....shouldnt take too much volume in RTH to do this (imo), possibly on the open.
Long bias for obv reasons, but wont get involved unless a decent pullback with good internals.....and wld look at 08-09 level, but ideally push towards yest vwap 2206 wld be nice. Long targets - well day & week R2 2220-2226 levels is a possibility.
Anyway heres some levels:
And pnf chart which makes this uptrend quite clear with HHs and LLs:
Cheers for the post, as mentioned its welcome, esp as you are trading similar method its good to see how it works in other instruments. Also provides other options for me perhaps in the morning.
So your OR is from cash open? Makes sense. Looks like nice uptrend forming there.
You really need to sort out the contract sizing - you will forever be kicking yourself for either taking it off too early or not early enough - i have been there. And I am not saying rush into live trading 3 lots+....test it out in demo & get used to where your Target 1/2/3 would be, and where there cld be resistance before the targets and this cld be a scalp target. I banked a cpl of times yest in ES as it bounced back off OR lows (i shld have in fact done it more times), which improved my basis to almost the low and thus happy to keep doing this - til it stops working. I am only just getting used to this myself (and found hiding my PnL was a help yest).
