Tag Archives: poor high

Gap Open Higher Repairs Two Poor Highs, Leaves A New One

A gap higher opening on the ES repaired the poor high from the July 3rd and poor/matching highs from June 28/29, but also left a new poor high in the current profile at 2443.75.

ES gap open higher repairs two prior poor highs, leaves one
ES gap open higher repairs two prior poor highs, leaves one

The bulk of the move higher happened in the pre-market, as price was contained to just a 9 point range in the regular trading hour session with mechanical buying from just above the prior weekly high at 2436.50 in the D and F periods.

short term traders buying near prior weekly high
short term traders buying near prior weekly high

Large gaps are rarely filled on the day or day after they’re created, and often during gap days if the gap is not filled and value does not become at least partially unchanged, the odds favor a late day rally in the direction of the gap. A late rally did not occur as price settled at 2439.75, two ticks above the half back level of the session after one timeframing higher in price in F through K periods.

Notable references for Thursday are the prior weekly high (an inside week) at 2436.50, on the downside, and Thursday’s poor high at 2443.75 on the upside.

Wednesday’s profile was balanced. Acceptance and continuation above the poor high targets the last remaining unrepaired poor high above from 6/26 at 2447.50, and potentially the all time high at 2351.50.

Acceptance below last week’s high at 2336.50 first potentially targets Thursday’s low at 2434.75, followed by the top of the gap at 2427.25.

Wednesday’s point of control was very wide, if a breakout occurs from Thursday’s balanced range there should be better odds of continuation if price first revisits the POC.

(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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Three Distributions, Anomalies in Profile Chart




Friday’s ES regular trading hour session ended the light volume holiday week closing with three separate distributions/anomalies in the profile.

If price opens inside Friday’s upper distribution on Monday, balance rules could apply:

– Look either above or below the poor high at 2425.00 or late pullback low at 2421.50 and accelerate/find acceptance
– Look above or below balance and fail, returning into and targeting the opposite end of the distribution
– Remain balanced (lowest of odds because of the small range).

If a gap open higher, monitor price for acceptance back into the upper distribution.

Price acceptance below Friday’s late pullback low and low of the upper distribution at 2421.25/.50 targets the middle and lower distributions from Friday. Acceptance back into the lower distribution below 2418.00 potentially targets Friday’s low at 2412.00 and the current low of the month at 2405.25. Acceptance below 2405.25 targets the June low at 2402.25, challenging the monthly higher one timeframing.

Potential targets (carrying forward) if price finds acceptance above Friday’s high:

– July 5th’s prominent point of control at 2428.50
– July 5th high at 2423.25
– Poor high from 7/3 at 2436.50
– Poor/matching highs from 6/28, 6/29 at 2440.50
– Poor high from 6/26 at 2447.50
– All time high at 2451.50, only two ticks of TPO chart excess

Three poor highs above Friday’s poor high:

three poor highs above market

(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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