Scalping ES on the DOM

The market is trending down into new lows. We'll step through a 2-minute ES DOM sequence and take a simple fade: watch for breakouts that slow down, then enter and exit on the previous high volume node. Then try it yourself on the replay below.

Here we have sell-side pressure but a huge wall of bids at 6475.00.

We see 403 contracts traded at 6475.25 - thats 1 tick higher than the 1000 bid wall. There was a massive iceberg and the visible bids were pulled completely. This is some big player tomfoolery and we expect this price to be revisited.

The chance of a breakout to the downside is high here, and we want to enter on a pullback.

400 contracts traded here, somewhat neutral delta. A good place to buy and aim to exit at 6475.

Try it

There are a couple opportunities to fade the trend here. Be sure to keep a tight stop loss!