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

Thank Tomorton.
I don't know how many hundreds of hours i've spent working with various indicators only to come to the conclusion that i could do as well by looking at a chart and using my common sense. To anyone who uses indicators effectively, i salute you...lol.

1-2-3-4 is nothing obviously nothing new but i find it quite a powerful pattern since every move begins with higher highs/ higher lows etc which are the building blocks of this pattern. All i've tried to do is limit the downside.

Ideally, I like to limit lines on charts to no more than 4-5. Any more than that and i start going over them again and asking myself if i really need them. If i do, its gonna be a quiet day! Obviously there may be intraday t/l to pencil in too as they develop.

Anyway, good luck with it. If you can think of anything to bump up the averages a bit, i'm in!:cheesy:

I remember your Big Ben strategy that was as simple as it comes - set-and-forget with no bells, bows and whistles. Are you still using it?


Cheers splashy - Big Ben didn't work out at all for me - the underlying structure was there, the market very often makes its high or low of the day in the first hour, but the system needs a way to filter the signals for the most probable and there were just too many failures. No time to screen watch and devlop it but as the basic idea worked so well for Mark Fisher, I would love to come back to it one day when time permits and do some more work on it.

Meantime, yopur approach on this is very clean. The placement of s/r levels and trend lines is always going to be controversial - I do see s/r levels as being fixed and objective - I notice you use the daily H and L established during the session, i.e. ignoring the overnight price action - is this not relevant also?
 
Just thought of something that may interest you, robster...

My data shows that the most lucrative day by far is.....Monday! And easily the worse is Tuesday. 7 of the 12 best days so far have been on mondays. The data on fx pairs that i have also corroborate this. Surprised? I know i was.
Of course you can make statistics show anything you want and time will tell but its interesting to me because i tend to find mondays a bit hit or miss.
Ah well, ho hum...

In order for me:

Wed
Thur
Mon+Tue
Fri

Funny how you monitor this stuff :)
 
4:00am EUR Italian Trade Balance 1.01B -0.97B -0.20B
5:00am EUR CPI y/y 2.4% 2.4%
5:00am EUR Core CPI y/y 1.6% 1.6%
5:00am EUR Trade Balance 4.8B 6.2B
8:30am CAD Foreign Securities Purchases 13.51B 10.20B
8:30am USD Core Retail Sales m/m 0.1% -0.4%
8:30am USD Retail Sales m/m 0.1% -0.2%
8:30am USD Empire State Manufacturing Index 3.9 2.3
10:00am USD Business Inventories m/m 0.2% 0.4%
6:45pm NZD CPI q/q 0.5% 0.5%
9:30pm AUD Monetary Policy Meeting Minutes
9:30pm AUD New Motor Vehicle Sales m/m 2.4%
Tentative CNY Foreign Direct Investment ytd/y -1.9%
 
Ditto. I'm not expecting much range on today, probably around the 15 pt mark. Of course, this isn't absolute.

Me neither. Reckon it will be thin and loitering today going back down to low 40's or maybe even down to 36 where there is some liquidity. Expect it to come to life again tomorrow on the news. Watching whether 55+ will be defended.
 
next hour should set the day's tone imho
 

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16th June

Friday looked like a nice trend day, although I wasn't watching it.

7-16-20129-05-13AM.png


But in the grand scheme of things just looks like we are expanding that value area. Volume was 1.8M or thereabouts, not too bad.

10:00 am business IV

Asia all up – but not a huge amount.
Europe all down – again, not a huge amount

ES is off 7 points as of now – 9:07. We seem to be toying with the high end of the intermediate term value area and it looks like an upwards breakout is due at some point.

Scenarios
– Green –straight up, continue out of intermediate and short term value area to visit 1400 again – least likely

- Roll over immediately after the open or off Fridays high 1353.25 or Fridays close 1352 and head back to 1325 area

- Push up on the open through the shorter term value area and bounce back off one of the LVNS there 1362, 1366.75, 1370. Open VPOC @ 1365.
Shorts – 1352, 1353.25, 1362, 1365, 1366.75,1370

Longs – none at this point but potentially a move up on strength and then a test of Fridays high or an LVN is possible
 
Put a Tazer on my mountain bike today - now I look like Mad Max on it.

Thai Dogs - chase me all you like now, just be ready for a jolt....
 
The CME traders are looking at 1320s later in the week.
The Housing numbers will be an important point to watch
They come out Wednesday at 8.30 am UK time
 
I have stopped my Presenters' Index.
They seem to have found out and are largely wearing neutral colours which defeats the object somewhat.

oh well. There might have been something to it.
 
They used to call it " the crabs" ?

Sounds like DT needs his Mum's TLC to get him back on track number 1

Are you saying I'd use a 50,000 volt non lethal weapon to cure pubic lice???? :eek:

Nope - dogs chase me on my bike. I now have a Tazer attached to the frame of my bike, so I can zap the little fnckers when they get too close.

Anyway -
7-16-20129-42-34AM.png


9:42:20 – got to ONL 1346 – saw some buyers jump in & got long 1346.50. Stayed there a few minutes & then only 2 contracts hit the offer @ 1347.25 before coming back down. So got out for a scratch. Will wait till the news is done.

Out @ 9:44:16
 
Looking @ that chart, how did I miss that short @ 1349.50 right off the open? FFS....

Ok - move on the news or I'm off to trade treasuries....
 
Didn't trust what was going on around 46 so not traded yet. Maybe news will drive to the high.....
 
I'm not into it at all to be honest. Missed 2 good trades so far. Not feeling it at all....

7-16-201210-12-23AM.png


Would have been a lovely short if I'd actually been looking at the screen....
 
I got stopped out of my long and went short. So far, have recouped about half of my loss on long trade.
 
I'm not into it at all to be honest. Missed 2 good trades so far. Not feeling it at all....

7-16-201210-12-23AM.png


Would have been a lovely short if I'd actually been looking at the screen....

ES 09-12 (1 Min)  16_07_2012 doh.jpg

:LOL:Yep, the market just loves to crucify ya every chance it gets. Got the chance to go bid 1346.00...unfortunately, me not around then.
 
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