ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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An 30m Bar ES Intra-Day guide:
Find a 30m bar that closes short. Basic bar construction:
O > C
O < H
C > L
Bar Median < H, > L Basically its within the body
3 Bar pivot < Bar Median and contained within the body.
*SEE CHART*
If the low of that bar holds and price rallies 200% of the range from the original bars high, price will start to consolidate at that level and revert back to the original bars high.
**NOTE: this signal is not complete, IF the low does not hold before 1097.25 is touched then the signal is not valid**
You can trade this as a signal but I use it as a really short horizon of the ES and the start looking for other short signals to fire off.
This is reliable and offers an average of 2 trades a week on the ES from the 30m bar.
Find a 30m bar that closes short. Basic bar construction:
O > C
O < H
C > L
Bar Median < H, > L Basically its within the body
3 Bar pivot < Bar Median and contained within the body.
*SEE CHART*
If the low of that bar holds and price rallies 200% of the range from the original bars high, price will start to consolidate at that level and revert back to the original bars high.
**NOTE: this signal is not complete, IF the low does not hold before 1097.25 is touched then the signal is not valid**
You can trade this as a signal but I use it as a really short horizon of the ES and the start looking for other short signals to fire off.
This is reliable and offers an average of 2 trades a week on the ES from the 30m bar.
So if you couple this with 1101.50 being another level of interest for me to short, I know that 1097-1102 will offer me a nice place to short the ES and pick up a minimum of 10 points. Which may have been 3-4 points 2 months ago.
LARGER VIEW: All the while I am watching this larger band of 1032/1014-1126/1148 as a range that I will initiate a swing trade around depending on which level it decides to move to first.
I also watch correlating markets, for instance, I know the QM has strength to $79/80 area so I am not "expecting" [but could care less because i just want price to move to a level] a move to 1014 anytime before that QM level is reached BUT if we do see that first, it plays right in line with my swing price levels and I feel very comfortable riding the ES back up, based upon the fact of how I trade swings, an either or approach...And if the ES hits 1126 before the QM is at the 79/80 level I will expect the ES to consolidate and possible move higher and the swing trade could take longer to set up. But regardless, it will set up.
I live and die by this on longer horizon trading.
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