Tag Archives: balance

Rotational, Balanced Day Ahead of Contract Rollover

balanced rotational day

One day balance in the ES ahead of the March 2018 contract rollover. Potential balance trading scenarios could include:

– Look above Wednesday’s range high/balance and find acceptance, potentially targeting the single print from the low of the 12/5 upper distribution at 2638.00.

– Look above the balance and fail, with good odds of retesting Wednesday’s prominent point of control and potentially the opposite end of the range, and potentially lower.

– Look below the one day balance and find acceptance and build value at lower prices, potentially testing the 2605.00 low from 12/1 and the prior weekly low at 2597.75.

– Look below Balance and fail, returning back into the range and test the wide POC, and potentially retesting Wendesday’s high.

The odds, ahead of contract rollover, could probably favor another balanced type of session on Thursday in the absense of any major news events.

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)




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New All Time High 2605.50

After setting another new record high at 2603.00 on the day after Thanksgiving, then another new all time high at 2604.50 in the overnight market, the ES opened inside the narrow 3.75 point range from Friday’s Holiday shortened trading session and quickly rallied to take out both prior highs, setting another new all time RTH high at 2605.50.

split-view-profile-11-27-17
Split view profile 11-27-17

Price rallied in the the opening period exactly from the overnight session half back level at 2600.50. The overnight half-back is a very common, visual short term trader reference, as well as is the psychological 2600 level, suggesting mechanical, shorter time frame buying was present early.

The early low was taken out after a sharp spike in D period took price below the 2600 level, but price rebounded to balance in less than a three point trading range for the remainder of the session, developing a twelve TPO wide point of control at 2601.25 where price settled.

new all time high 2605.60
New all time high 2605.60

2601.25, although an obvious, very visual reference, could be early short term support or resistance depending on which side of it price opens. The market spiked a few ticks higher in the final runoff period to 2603.000, the prior weekly high from Friday’s shortened session. 2603.00 could also be an important early trading reference on Tuesday.

Price acceptance above 2603.00 could challenge the newly printed all time regular session high at 2605.50.

Price acceptance below the 2603 area targets Monday’s low and potentially the poor low from 11/22 at 2593.75, further liquidation below that level could target the A period single prints above the 11/22 low, and potentially the top of gap at 2589.25, followed by the gap fill from 11/20 at 2584.00.

Developing value on Tuesday could give better clues as to how the market will react to the latest new all time high.

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)




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Balanced Day, Poor High, Questionable Low

Balanced day Tuesday with overlapping to mostly higher value. Price traded to a tick above the prior day’s high at 2501.25, leaving a poor high in the profile. The low at 2492.25 is questionably weak as it was just a single tick below the prior day session’s half back level and two ticks below the overnight session low. A poor high and weak low suggest day time frame and short term traders were in control. Both levels have good odds of being revisited in a future trading session.

balanced day poor high above prior half back level
Market Profile chart showing poor high, wide point of control and questionable low at prior day’s half back area. The high is also a “weak” high, because it was only a single tick above the daily high from 9/22.

If price opens within this range, early references are the CME settle at 2495.50 and the 10 TPO wide point of control at 2497.25. A breakout from either side of the balance could have better odds of continuation if price first trades back to or near the wide point of control.

Potential trade scenarios could also see a look above or below the balance and fail, targeting the opposite end, or remain in balance (probably the lesser odds).

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)




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