'No indicators' revisited

[a320]

It is amazing Most are aware of the open price 50% of the time will be high or low of the day... so they play it accordingly.. the price is above the Balance point so more likely to bounce
Yes thx ford... Geometry played out well

Cheers CJ

 

[a320]

Am I reading you correctly Skim...
5min ES04H....

CJ

 

[a320]

Good call to spilt the thread mark
Are you converted to the dark side yet :?:

CJ

 

[FTSE Beater]

Hiya A320

hmmm yes and no. I believe that support, resistance and trendlines are the key to good trading. I believe that Elliott Wave is a fancy name for the analysing of higher highs, lower highs, higher lows and lower lows and I'm convinced the 100MA on the Dow has magical powers

I also believe that this is the light side, not the dark side.

 

[a320]

The light side :?:
hmm..rimes with right :cheesy:
Dons hard hat prepares for incoming
Cheers CJ

Up late tonight mark..not on the razz??
pipe & slippers

 

[a320]

Should pop into the chart room mark....

CJ

 

[Skimbleshanks]

You're sort-of right young a320 - I actually meant the bigger picture h&s, with a short at 1094 off the doji sitting at the top of the right shoulder. So if it fails it's got previous resistance at 1095 and 1095.75.

Here's my take on it:
ES 10 min chart

 

[FTSE Beater]

Hiya A320

errr, You posted that last message at 1:00am - At that time my pipe was out and the slippers were well tucked under the bed!!

 

[hampy]

Skim + a320,
Great posts thanks. I'd like to say I'm getting the hang of this now, but every day the market throws up something new to learn

You never know, one of these days!
hampy

 

[Skimbleshanks]

hampy:

Trading on the dark side is simple, it's just that it does take a lot of time to watch and learn. Only you can teach yourself to 'see' what is being offered and that's why it's sparsely populated on the other side. The vast majority want to take dosh out of the markets from day 1, not patiently watch and wait until one day the penny drops.

 

[china white]

sorry lads/lasses whats this dark side??? is it Lord of the Rings trading sort of thing?

 

[a320]

I see where you coming from now skim...

Mark you missed a good session in the chat room

Cheers CJ

 

[Skimbleshanks]

Those who reside on the dark side trade on price. Nothing else. There are only a few there, so there's plenty of room!

 

[a320]

Balance point..on the 15min es04h..

Cheers CJ

 

[a320]

5min es04h...

CJ

 

[a320]

Here's a link to the festive market open/close times

http://www.cme.com/trd/calhrs/christmas_2003833.html

Cheers CJ

 

[china white]

skim - lol! i must be trading in the twilight zone then with my Tick divs! merry Xmas all

 

[hampy]

Skim, Thx for that. I've plenty of patience and not at all tempted to throw money at the market until I know more about it.
I might however join China white and his Tick in the twilight zone whilst I learn more about pure price action :cheesy:
Merry Christmas!
hampy

 

[kevin546]

This has turned into a useful thread. Your take on the 5 and 10 min ES re head & shoulders I see it as a failed re-test and 1094 was short term support moving to resistence.

Shim,

Re H&S entry, what would have been you closing position.

 

[Trader333]

Interesting, does anyone here use "Price Balance Theory of Markets" to trade and if so how successful were you using it ?


Paul