S&P 500 & other indexes - intraday. Plus chat

[Pat494]

a. I'm pretty sure I rushed that exit because I saw I had bagged a good one and needed to pee.

Tie a knot in it ?

 

[robster970]

Tie a knot in it ?

 

[Pat494]

I've been boating all morning, so time to concentrate and get some pennies in the bank

 

[robster970]

I've been boating all morning, so time to concentrate and get some pennies in the bank

Your own tub or somebody elses?

 

[wackypete2]

Good peeing, err, I mean trading

Peter

 

[Pat494]

Your own tub or somebody elses?

I've got a small sail boat - Silhouette Mk 3 ( last one ever built by Hurley Marine )
She needs bailing out every month

 

[counter_violent]

I've got a small sail boat - Silhouette Mk 3 ( last one ever built by Hurley Marine )
She needs bailing out every month

A bit like the Euro then !

 

[Pat494]

This is my view on the probabilities. If it breaches the trend line then one could expect a rise though

 

[Pat494]

A bit like the Euro then !

Ha Ha

wish they would push a billion or so my way !

They should invest in people

 

[DionysusToast]

Amazing. Hasn't broken out of that range. No direction today so far.

Peter

Well - we've dipped below to 1299 & on the way up - even the Spain news didn't spook 'em today.

Tis dull though...

 

[Pat494]

This is my view on the probabilities. If it breaches the trend line then one could expect a rise though

Breached it !
I am sitting on my hands , as it oscillates like a yo-yo

 

[robster970]

I've got a small sail boat - Silhouette Mk 3 ( last one ever built by Hurley Marine )
She needs bailing out every month

Gorgeous

I elected for power over sail. Twin engined Sealine. She's up for sale at the moment as we just don't use her enough. Will probably buy again once kids have left home. Love being on the water.

 

[Enzzo]

I know you guys are more about scalping the very shorter tf's with the order book, than anything else... but I think that looking at the higher picture never hurts,
and looking at what ES chart is saying lately, it is quite contradicting, and even when they say that the higher tf's are always the stronger and more reliable (thing that one can doubt about) I didn't make my mind yet, towards any option...
I always wait for the market tip its hand first place and after I position myself, but would be great to know what your opinion is about this 2 kind of opposite scenarios....
I'm bearing in mind that both can happen, and one can profit for them both, but are you biased towards any of them particularly?

 

[Pat494]

I know you guys are more about scalping the very shorter tf's with the order book, than anything else... but I think that looking at the higher picture never hurts,
and looking at what ES chart is saying lately, it is quite contradicting, and even when they say that the higher tf's are always the stronger and more reliable (thing that one can doubt about) I didn't make my mind yet, towards any option...
I always wait for the market tip its hand first place and after I position myself, but would be great to know what your opinion is about this 2 kind of opposite scenarios....
I'm bearing in mind that both can happen, and one can profit for them both, but are you biased towards any of them particularly?

Just my amateur opinion but I look at the t/f above, like 1 hour to make sure I am not trading against the prevailing trend

 

[DionysusToast]

Here's an interesting stat....

This shows the delta between average cumulative volume for the day & todays cumulative volume.

We are now at an interesting point - just under yesterdays POC & just below that area we expected churn. The arrow points to the LVN there which is an area of price rejection from yesterday.

What happens next?

Answers on a postcard.

Target 1 already & will leave this to see if I can catch a runner. My apologies for the edits - keep grabbing screens & trying to manage the trade,

Rob needs to come back & place another trade....

Right now, we are 330k above average for the time of day, if this flattens off, we are back to average volume. If we drop off, volume is moving back below average.

 

[DionysusToast]

I know you guys are more about scalping the very shorter tf's with the order book, than anything else... but I think that looking at the higher picture never hurts,
and looking at what ES chart is saying lately, it is quite contradicting, and even when they say that the higher tf's are always the stronger and more reliable (thing that one can doubt about) I didn't make my mind yet, towards any option...
I always wait for the market tip its hand first place and after I position myself, but would be great to know what your opinion is about this 2 kind of opposite scenarios....
I'm bearing in mind that both can happen, and one can profit for them both, but are you biased towards any of them particularly?

Agree Enzo. I think it is confusing most of the time - but what you can do is say:

"If I see a, I will trade like this"
"but if I see b, I will trade like this"

No-one knows exactly what will happen. What you see Rob doing in his posts is showing that he's thought through his scenarios before the open and then is playing the scenario as planned. Of course, there's always the chance an unexpected scenario plays out...

 

[robster970]

It's outside the overnight range so somebody thinks value is back up here. I wouldn't be surprised if the longs who got in around 1300, unloaded into the liquidity available around 1315. I doubt it will go up further today though.

 

[DionysusToast]

It's outside the overnight range so somebody thinks value is back up here. I wouldn't be surprised if the longs who got in around 1300, unloaded into the liquidity available around 1315. I doubt it will go up further today though.

Well - long term, the VAL is 1322.25 and so I can't see why we can't get above that but right now, I think we have a fighting chance of a move down which is getting slimmer by the minute!

 

[DionysusToast]

BTW - I only placed this trade because Zoe walked into the bedroom whilst me & the mrs were 'busy'.

Hopefully she'll fall asleep (Zoe that is), so we can continue..

 

[robster970]

No-one knows exactly what will happen. What you see Rob doing in his posts is showing that he's thought through his scenarios before the open and then is playing the scenario as planned. Of course, there's always the chance an unexpected scenario plays out...

Just to add to this Enzo, I generally do ok not because of prediction but because of reaction. It's how you deal with the 'now' that makes the difference.

In the last 30mins before RTH open, I start visualising how possible scenarios may play out, all of them with me successfully executing the trade to a profit. If you understand a little about sports psychology you will always understand why it is important to go into this with a belief you can win, even if the reality doesn't always work out like that or the result is not the one you expected.