Last Updated:

ES 06-18 / 15. May 2018

wtl Daily Digest

Traded ES future volume was 1.481.585 according CME settlement data. 


Before drilling into the micro view of the Order Flow and Order Book it is always adviseable to stop by and have a "birds-eye-view" on the daily chart, 60 min. or 30 min candle chart.  

Daily Chart
30 min. Chart

This is nothing new for a trader and I don't want to go into it. 

But, when we look at the daily structure within the higher time frame a trader will undoubtely see in what "condition" the market is. Then we can drill down and understanding the context of the micro structure. Finally we can read the order flow within this structure, understanding the auction and its participants. 

From my experience, I see nearly every day that levels which are important on a daily and 30 min. chart are undoubtely levels which are respected by the market. There is not a guarantee that these levels must hold, but in most cases they are respected. 

In parallel squeeze your Bookmap™ chart and see which of these levels are supported by liquidity on bid and offer side. 

Then, and that's important, mark up your levels in Bookmap™. 

And this is a must! It easily happens In the heat of the trading day that important levels were overseen. In hindsight you curse yourself why these levels were not marked on the Bookmap™ chart because you missed a good trading entry. 

Daily Preparation

My prep. work for today showed following levels according my tweet

Resistance: 2718 - 2721
Support: 2700

Bookmap™ Microview

And this was todays outcome:

ES Future Session 15th May 2018

Not every day can be so perfect as this day was. But you'll definitvely see the micro structure of the market with a more conscious mind. It will be better understandable and comprehendable what market agents are doing or what they are aiming at. 

The opportunities today were clearly visible. Strong support at 2700. Strong resistance at 2718 and later at 2715.  This opened good trading set ups which were in line with the MAE/MFE blog article. 

Sometimes it's simple as that, isn't it? Ideas? Leave them in the comments.