Trading ES (Q1 2004)

[stoploss please]

Tick

This is taking far too long. Moderatley bullish.

 

[stoploss please]

SOX down to -0.3%, anyone have the symbol for the biotechs.

 

[frugi]

BTK m8.

 

[stoploss please]

VIX, VXN, TRIN negative

Tick rolling over and VIX feeding the bears. I hate triangles.

 

[stoploss please]

Cheers fruges

 

[frugi]

I hate them too. Breaks downwards after a 10min doji and then rises up to stop me out. That's about the tone for the day I've had though!

 

[stoploss please]

fruges

Been playing about with the ten minute charts on VXN,VIX and TRIN. They seem to give good scalping entries in this triangle. You have to be be very nimble.

Have a nice weekend m8

 

[stoploss please]

Previous days high

For some reason I took off the previous days highs and lows from my five minute chart. A bit of a mistake as the previous days high became support. Should have noticed it as I am looking at these charts all day.

 

[ChartMan]

Just a suggestion.... I don't take into account the huge excursions when trying to see the bigger picture. That big triangle was never going to happen...

 

[anmolway]

Good point CM, after such extreme movements of the early session it was highly unlikely that any significant movement would have occured.

 

[Skimbleshanks]

On ES 10 minute it looks to me like an Adam & Eve, but a top not a bottom.

As Frugi is prone to saying, would you Adam & Eve it! :cheesy:

 

[stoploss please]

Skim

If you are around. I have just been doing some scalping in the one minute time frame by using 123's, volume and S&R. This is because the market has been really crappy today. Not done too bad.As you have had a lot more experience trading this method, do you think it is a good idea or should I just do some knitting or something when it's like this.

Cheers
Andy

 

[stoploss please]

Adam and Eve. Whats that then.

 

[Skimbleshanks]

Great minds think alike - we both post at the same time on a thread that's not been used for two days! LOL

I think it's great that you recognised that, and therefore if you can scalp here and there, then that really is the only thing to do. Or just sit out and wait for the trend which you can just feel is coming.

The price bars on the 5 min and 10 min didn't form as expected this morning, so I've just been sitting here pondering on whether I should knit Frugi a clanger or not. :cheesy:

 

[Skimbleshanks]

Adam & Eve is a type of pattern coined by Alan Farley, and he describes it in his book The Master Swing Trader.

In my book (haha) it's just a head and right shoulder. I believe it's called Adam & Eve because the 'head' looks a bit like Adam's appendage, and the 'right shoulder' looks a bit like Eve's boob. To my eyes the Adam bit is usually an aggressive move, and the Eve bit is nicely rounded and gentle - typical man and woman then. :cheesy:

This is the Adam & Eve I can see on the ES 10 min:

 

[stoploss please]

Now you are being Rolfe Harris.

You know what my next question is. Where do you enter. I suppose a break of support that hold or on the first retracement to resistance.

Cheers

 

[Skimbleshanks]

Ideally you enter a short at the top of any of those long bars, as this is where your risk is the least.

There's a lot of support at 1155, so time will tell as to how this plays out.

 

[stoploss please]

That's interesting. I would have shorted it higher at resistance. 1160 and 1158. That way the bias is in my favor if I got it wrong.

 

[frugi]

Afternoon folks,

That pattern could be an inverted saucer too? Either way it looks bearish, especially after Friday's failed breakout.

Does the 30min pattern count as a potential 123 at all?

The price bars on the 5 min and 10 min didn't form as expected this morning, so I've just been sitting here pondering on whether I should knit Frugi a clanger or not.

If the needles are sharp, the wool pink (with a hint of peach) and the spirit willing then going long 27cm of my Clanger is surely the only sensible option.

Here's a poor photo of the competetion!

 

[Skimbleshanks]

That clanger's starkers!

I thought they had to wear a little tunic? If it's a starkers clanger you're after, then maybe I will have a go.

And I got the pink felt and black felt on Saturday, so there's nothing to stop me, except a nice fast moving market. :cheesy: