fibwizard 8:02 am on Wednesday, February 8, 2017
Tags: Futures ( 85 )

Open Trade ES

9:30 9:30 reversal moves down and bounces at 2283…
9:35 Long ES 2283, as wave stays above zero and bars stay blue….stop at 2281
9:40 ES moves to 2288, stop moved to 2286
10:00 ES moves to Center PP, at just under 2289..stop moved to 2287
10:00 ES moves to 2290, stop moved to 2288
10:05 exit trade at 2290, as the ES stalls and wave turns red…

gain 7 points
250/point

jsd501 8:12 am on Wednesday, February 8, 2017

Nice trade.
Jeff 9:46 am on Wednesday, February 8, 2017

If you’re making 250 per point, then this trade brought in $1750? Isn’t that significantly ahead of your weekly goal of $1000?
- fibwizard 9:59 am on Wednesday, February 8, 2017
  
  Your correct..my calculator went on strike..:)
  I should have said..and stand corrected:
  I conservatively wish to make 40 YM or 4 ES points a day..out of a possible ATR move of either 120 on YM or 20 on the ES..
  
  that comes to a 1000.00 each day for either of those trades..for a 4000.00 weekly income for 5 days..as most fridays I dont trade..
  Monday – ES 8pts = 2K
  Tuesday – YM 60pts = 1750
  Weds – ES 7 points = 1750
  
  so this week I am ahead a lil bit of the goal..and thanks for the correction..
  - Jeff 10:11 am on Wednesday, February 8, 2017
    
    Cool.. yes I thought your weekly/monthly goals seemed low based on the trades I had seen. Thanks for clarifying.
Laura 11:34 am on Wednesday, February 8, 2017

What pushes you to choose one index over another on any given day…meaning why did you choose ES this morning vs YM or NQ?
Thanks
- fibwizard 11:57 am on Wednesday, February 8, 2017
  
  YM never made much of a move after its opening range..it made a 40 point struggled move..after its 9:30 reversal low of the day at 19966…it was choppy from the open and I chose not to play the chop and bleed…
  
  The ES was a cleaner move after its 9:30 reversal/bounce..it bounced just above the S1 pivot, at 2283, which previously held support prior to the 9:30 slide..so it was easier to trade off that bounce…the power squeeze was stronger in the ES than it was in the YM..which is why the YM stopped at the gold line, and the ES moved on thru to the Target lines..so I took the ES for a 7 point gain..the same gain in YM would need to be 70-80…it never happened..Lining up the indicators with the price chart makes a huge difference..
optionshane 12:43 pm on Wednesday, February 8, 2017

Wiz, do the ES/YM futures normally experience an “opening move” prior to a buy/sell signal? I just started following them so I’m not familiar with their movement in the first trading hour. Thanks.
- fibwizard 1:09 pm on Wednesday, February 8, 2017
  
  Shane,
  The usual behaviour I look for is this :
  8:30 the first 5 min candle opens and sets the range hi/lo
  
  wait for a 2-4 point move up or down..today it moved down 3 points
  
  after the initial 3 point move, it will normally bounce opposite for a 4-6 point move..today it was a 4 point move..to the 2286, this tradeable if you want a small move..
  
  after that 4-6 point move, there is almost always a 9:30 reversal/pullback, then a continuation up to a target line..todays bounce and continue was a 7 point move up..trade the bounce..and exit at the top..verify the move with squeeze and wave bars..and exit into weakness/strength..
  after this move up or down, my trade most days is over..
  
  after the bounce and move at 9:30, it will top/bottom out at or near 10am….at the top or bottom, it stalls and forms a box, then gives back a lil of the gain before entering 11-1 lunch time.. under certain conditions, such as YM today, it will sell off and give the whole move back..thats the only instance I will trade the 10am move..
  
  correalate this text to what my chart shows..and look at last weeks charts..you’ll start to see the timing of the moves and how the ups/downs correalate to the same times each day..then you can learn to base your moves with that behaviour..making a few points on these moves isnt too hard when you learn the methods..
  - optionshane 2:26 pm on Wednesday, February 8, 2017
    
    Thank you.
martin2 5:24 am on Thursday, February 9, 2017

fibwizard, how do you develop the Target-1, -2, and -3? are you taking a fib off of the opening 5 minute range?
- fibwizard 7:37 am on Thursday, February 9, 2017
  
  The group of lines is a Study created by a teacher that teaches a futures class..I inserted the code for the indicator in TOS, then used it in my charts..
  - martin2 7:44 am on Thursday, February 9, 2017
    
    which futures class? do the targets seem to work? how long have you been following this system?