Tag Archives: poor low

ES Sets Another New Record High and Sells Off, Leaves Market Profile Spike




After setting another new all time high during Sunday evening’s Globex session at 2663.25, the ES gapped open 4.5 points above Friday’s high, rallying from the prior 2658.50 all time high in the opening period to trade two points above the overnight high, and setting a new regular trading session record high at 2665.25 before reversing.

selloff from new all time high
After trading two points above a new record high set in the overnight Globex market, the ES set a new regular session all time high and sells off from it, leaving a late day Market Profile spike at 2650.50.

A sharp move in C period traded, mechanically, to exactly at the prior day’s high and bounced, closing the gap but leaving an early poor low with only one tick of excess at the C/D bar lows.

 split view market profile chart 12-4-17
Split view market profile chart 12-4-17

The high of F period mechanically filled in, to the tick, the B/C period single print and continued to balance until selling off again in J period, forming a late day spike below 2650.75.

2650.50 could be a key Market Profile trading reference on Tuesday as the base of the late day spike is generally resistance. Remaining below the spike base keeps the downward trend from Monday in tact, with good odds of price retesting Monday’s low.

Acceptance back above the spike base could nullify Monday’s late bearishness, which could lead to a retest of Monday’s point of control. Acceptance above the POC targets the near matching E/F/H/I bar highs and potentially 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)




Share  Facebooktwittergoogle_plusredditpinterestlinkedinmail


Subscribe: 

Poor structure at all time high, Market Profile

Multi day trading range in the ES with three consecutive near matching highs, poor lows.

The ES is trading in a multi day range with three near matching highs and consecutive poor or weak daily lows, suggesting a market that is dominated by short term and day time frame traders.

The all time high is not secure. If a “look above and fail” scenario occurs, the obvious potential destination trade would be to repair those poor lows.

Acceptance above the latest all time high could also lead to another break out of balance to the upside, but long risk appears to be very high with the poor profile structure below.

(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)




Share  Facebooktwittergoogle_plusredditpinterestlinkedinmail


Subscribe: 

Low Confidence Trading Session Leaves Anomalies in Profile, Weak High, Poor Low,

matching daily highs and poor low in profile
matching highs, poor low in profile chart

Wednesday’s anomalous profile featured a high that matched exactly the high from August 9th at 2474.00, and left a poor low with no TPO’s of excess at 2462.50. Value ended the session as higher than the previous day, but the point of control had migrated lower in the final period.

If price opens within Wednesday’s range on Thursday it will probably attempt to clean up the anomalies. Acceptance above Wednesday’s high could target the remaining unrepaired anomalies from the August 8th profile, when the ES put in its latest all time high at 2488.50. Failure to find price acceptance above the 2474.00 matching highs, a “look above and fail scenario”, potentially targets Wednesday’s poor low 2462.50.

Acceptance below 2462.50 targets Tuesday’s low at 2460.00 and the excess single prints from the August 14th profile, potentially the top of the gap at 2454.00, and the bottom of the gap at 2446.50.

Price is one tmeframing higher on the daily chart since the August 10/11 near matching lows at 2435.75/2436.00, which remains an unrepaired poor low.

(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)




Share  Facebooktwittergoogle_plusredditpinterestlinkedinmail


Subscribe: