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had 2 long ES, booked profit on one at 64.5.

Its actually a very good question. I think for ccys, a big up bar more often than not denotes strength. For ES intraday I am not so sure. I think the only trick I am a little sure that denotes ES bias not strength intra-day is if it is above or below 50%. You have any tricks up your sleeve ?

Thanks for your commentary ammo. Let me see what that blog says and maybe i will get some ideas from there.

Its amazing, we pikers are looking at strength etc before entering the market. whereas big money decides to wait till 12 ET and allows ES to go down and then suddenly starts to buy it pushing it up. Its a complete different mindset between trading 1 lot and 1000 lots. We follow trends, then...

Thanks, that was a gem :) I can see it in the markets today. Now I need to observe markets for few days to identify this relationship.

3 Cheers to Bulls!!!

Thanks satchel, I respect your opinion. Do you have any stats for this, or is it based on your empirical observation. If this rule of thumb is correct, it means we will see new lows in ES ....correct, but it is holding surprisingly well till now.

Ammo what does it mean when there is so much divergence between Dow, ES and Nasdaq ? Dow is strongly positive, ES near its LOD, and Nasdaq well broken its LOD. You have any insights into such days, which might be helpful for trading?

ES looking weak but Euro is strong. So, I am still keeping my long ES intact, but may get stopped out. If stopped will reverse and get short. ES has been below 50% for more than 15min now.

Fair enough, I was thinking of a big one here, and I could be wrong of course. Actually your style of trading is pretty interesting. With small stops, if you can have a lot of scratch trades and manage to sneak in few big wins, your equity curve will look very smooth, even if you get stopped...

I think we will see 64 today, maybe a good idea to increase your target.

Till now market is respecting the 50% which is 55.25. I am still bullish, until proven wrong.

Imho, its a bullish day, look to go long on pullbacks :)

1 more long 1254.5, stop to 52

long 57, target 65, stop 53

booked profit at 54.5, for a 1.5 point target.

long 1253.25, 2.5 point target

profit booked at 1255.

short 57.5, target 2 points. Edit: Target 2.5 points.

Mark, Thank you for your time to throw more light on your point 1. In my strategy development, I look at 4 things that outweigh other aspects: PF, Win %, DD frequency and severity, and the looks of equity curve. I typically don't measure the time required for a new equity peak, since I am not...