[jonbig04]

In the past few weeks I have decided that price action is the same regardless of whether it RTH or not. With that in mind I decided to wake up early today because of the employment data and the NFP data (6E). I could care less what the news is, but since I'm watching for potential BO's on both instruments I should be around when BO causing news is announced.

ES has been bouncing off of 990 all night and I can't sleep knowing it could BO below it, so here I sit. Anyways the data for both is being released at 8:30 eastern so i'll be watching both and potentially trading both.

[jonbig04]

I should note that despite finishing today in the red, I consider it a success. I think these trades had at least a 33% chance at being successful. They just weren't this time.

[jonbig04]

what a lame BO (if you can even call it that).

Not much to do but wait to see if it makes it down to 990 again.

I've been talking about taking standard sell R, buy S trades for months now. I;m going to start tomorrow. Though I'll be doing THOSE trades sim and keep my live setups as they are. If the first test trades go well this month, I will start taking them live next month.

[jonbig04]

[jonbig04]

Btw I was out BE bc price was moving like a train to my stop. I have since gotten back in with a short at the same area.

[jonbig04]

[jonbig04]

[MidKnight]

Hi John,

I'm no ES trader, but in two markets I have studied in detail, the Nikkei 225 and the Hang Seng (in particular N225) - probes through obvious S/R are a near certainty. It is rare to not have it probe. The probes are necessary because they take players out who use the prior pivot as a natural stop area, they sucker people in to play a breakout, after the probe occurs it needs to attract participation. From my studies, most of the time the probes do not.

Have you studied this on your charts? Maybe you will find that the probes occur more frequently and more reliably than your DT or DB patterns.

Just my

With kind regards,
MK