While I see a clear two tiered channel working lower, it is so flat that it is more like a range type day than a trend day really at this point in time.  The bias is slightly down, but on range days, you can play both sides of the range if you get good set ups near the highs and lows of the main support and resistance areas.

Just be sure to draw your shorter term trend lines and channels, as they help tremendously if you can find them consistently and read them properly.

Mack's Mid Day ES Chart for 2-27-2015.
Mack’s Mid Day ES Chart for 2-27-2015.

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Comments

Howie February 27, 2015 at

Thanks Mack. Volume looks low again today, but a very nice predictable trend day. As you say, the key to the day is to find those short term lines and most importantly what is going on inside them and trade accordingly. As I celebrate my first anniversary following you, this has been my best month so far with all my stats, win rate and profit ratio continuing to improve month on month.
Hope the weather is a bit easier for you today, have a good weekend.

jcampeau February 28, 2015 at

That’s cool Howie to see you’ve had your best month yet. Congrats on your 1st year 🙂

As always, thank you Mack for the teachings!

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