Monday, June 16, 2014

Monday June 16th 2014 Key Levels and Plan

Morning Traders.

As we know ES broke out of the 38.50 - 54.75 balance area on Thursday and re tested the balance area that formed from the May 29th to June 4th. On Friday buyers failed to get ES above Thursdays 29.25 VPOC and so today if buyers are to take back control we are going to need to see them push above the 29.25 area.

The LVN at 32.75 will then be the next area that Sellers will need to defend if we are to continue selling off. However if buyers can push through the 32.75 LVN then id expect us to retest the bottom of the balance at  38.50 where id expect to see sellers step in on first test.

We then have NVPOC @ 43.25 and 47.00 which if we test them today id expect to see sellers step in on first test.

However if sellers continue to sell and defend the 29.25 level then we could see selling continue down to 1919, where buyers would need to step in to avoid a further liquidation down to the NVPOC @ 1912.25 where id expect buyers to step in on first test.

Fridays profile left us with a poor high that would need to be repaired at 31.75 so id like to see us auction higher off the open to repair this and then see if we can get to the 32.75 LVN.

Wednesday, June 11, 2014

So far on the day time frame we have failed to break below that 38.25 level we spoke about pre market which means that we will likely get rotation up towards todays VPOC @ 43.50. A break above this would see us head toward 48.00 and then back up to new highs at 50.75.  Weekly Value is at 46.75 and buyers will need to push through this to commence its rise to new highs.

The fact that we didnt break the 38.25 level tell me that buyers are still in control at this time. The market is currently balanced now.

As mentioned pre market we needed to see the 38.25 level tested for the 3 day RTH profile to balance out.

06/11/2014 Globex review and RTH session Trade Ideas

The globex session saw us trend downwards, narrowly missing the 52 target we had yesterday by 1 tick. Today's session could go one of two ways for me. Firstly to break out and liquidate even further we need to the 38.25 vpoc from Thursday and the bottom of this upper balance we have seen for the past 3 rth sessions. IF we break the 38.25 area we may see continuation to the 31.75 level which will balance last nights globex session downtrend. However if buyers can keep price above the 38.25 area we may then be in for a slow grind back into the 3 day range that we have been in and maybe test the highs once again.

The 3 day balance profile also shows us an imbalance to the downside needed to get to 38.25 for this to be balanced. Happy Trading. 

Tuesday, June 10, 2014

Close review and Globex Plan. 06/10/2014

As we close out the day we have hit yesterday vpoc at 50.00 and our final target of 52.00/52.25 looks to be in sight.  Its now 5 minutes until the close so hopefully we can get to this target before then. If not then this will be our globex target. During globex i expect to see some chop around the 50.00 area with my bias on the scalp shorts from 52.00/52.25. Happy trading.

06/10/2014 ES Trading.

Today's profile has been imbalanced to the upside throughout the session, with a target of 52.00. Vpoc at 47.75. We have potential resistance @ yesterdays 50.00 vpoc and this could be a good scale for any longs still left in the market with the 52.00 as a final scale target for anyone holding into the last hour/ Globex session. My end of day Globex session review will come tonight for you guys.  Happy Trading.

Welcome to Humboldt Trade Blog

Welcome all to the new Humboldt Trade Blog. I will be posting ES Futures Trade Ideas and Targets using a market profile technique that i have implicated and refined over the years. Today's end of day review will be up shortly.