Tag Archives: weak high

Two day Balance – Near Matching (Weak) High and Low Ahead of FOMC

two day balance in ES ahead of FOMC, poor highs and lows
Two day balance with near matching highs and lows in market profile charts. September ES futures contract.
no excess  lows market profile charts
Multiple no excess lows in recent market profile charts beg to be repaired



(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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FOMC Day Leaves Questionable High and Low in Market Profile




weak high and poor low in ES market profile chart

The ES is trading in a two day balance. Potential trade scenarios could include:

– Remain in balance, possibly trading slightly above or below the current two day balance, but mainly trading within it.

– Look above and repair the near matching highs and fail to find acceptance at higher prices, returning back into the two day balance targeting the point of control and potentially the opposite end of the range.

– Look above the two day balance, repairing the two near matching highs and find acceptance at higher prices, targeting the low from 1/26 at 2846.50 and potentially the unfilled gap from 1/19 at 2851.50. Acceptance back into that balanced day’s profile could target the value area low, point of control, and possibly the high of that day. The all time high was made in an overnight session. Although they can last for some time, record highs made in after hours trading sessions have always been revisited during a regular hour trading session.

– Look below and repair the poor low at 2813.00 and return back into the two day balance, targeting the point of control and potentially the high of the range.

– Look below the current two day balance low at 2813.00 and find acceptance at lower prices, targeting the prior weekly low at 2809.25, potentially testing the 2800 level.

If price opens with the range, the near back to back points of control could provide early support or resistance, depending on which side of it price opens. Prominent points of control can often act as price magnets, drawing price back to it.

(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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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)




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