11/11/2019 ES Daily Recap
We had a pretty slow and low volume session. The key to trading days like today is to be patient and look for the best trade location. Short side I was looking for the low 3090s as we should have some decent selling at that level and since it was a low volume and very little buyer initiative. The only long set up i saw was when we held initial support at open and since we had a decent pullback overnight. While waiting for the real trade, you could have scalped off initial resistance if watching the footprint chart. Your risk would be behind any large offer orders that pop up. You would not want to overstay as you would have been caught in the slow grind up. The market profile hinted for upward direction as the POC had migrated up and built value below the initial resistance. As we gained acceptance at these higher levels if you were not long already it may have been worth not trading this.