stoploss please
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Trading ES (Q1 2004)
- Thread starter china white
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Thanks Stoploss.
Your comment made me think about patterns, and seeing them. I had a quick flip through the charts in a few trading books, and nowhere could I see where part-formed patterns had been illustrated. Only completed ones.
So that suggests that book authors must believe there is greater value in illustrating the completed pattern. But the art is in spotting them during their formation, recognising them as such, and entering at the most low-risk entry point in the formation.
Anyway, I digress. As I was lying in bed last night thinking about what a nice day it had been after a grotty start, I remembered that I'd forgotten to point out the small Adam & Eve sitting inside the bigger one. Can't be bothered to crank up the old charting proggie to show you, you can see for yourself.
Which reminds me of a joke for the girls: What's the best thing about a nudist wedding? You don't have to ask who the best man is, you can see for yourself! LOL
Oh, and the mini A&E is in the first 3½ hours of the trading day on Monday. So when one pattern is inside another, it's usually a very very good trading opportunity. Trade the smaller one, and bear in mind that that will then kick the bigger one into play.
Your comment made me think about patterns, and seeing them. I had a quick flip through the charts in a few trading books, and nowhere could I see where part-formed patterns had been illustrated. Only completed ones.
So that suggests that book authors must believe there is greater value in illustrating the completed pattern. But the art is in spotting them during their formation, recognising them as such, and entering at the most low-risk entry point in the formation.
Anyway, I digress. As I was lying in bed last night thinking about what a nice day it had been after a grotty start, I remembered that I'd forgotten to point out the small Adam & Eve sitting inside the bigger one. Can't be bothered to crank up the old charting proggie to show you, you can see for yourself.
Which reminds me of a joke for the girls: What's the best thing about a nudist wedding? You don't have to ask who the best man is, you can see for yourself! LOL
Oh, and the mini A&E is in the first 3½ hours of the trading day on Monday. So when one pattern is inside another, it's usually a very very good trading opportunity. Trade the smaller one, and bear in mind that that will then kick the bigger one into play.
frugi
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Reasons to be bullish
Inv H&S forming on 5/10min - neckline 1144.50ish, if it goes target is c1150.
Long tailed doji on 30 min. Short tail doji on 10 min.
Marked Tick and RSI PD on today's low. Blow off vol on bar before 10 min doji.
5 min down trend line from yesterday broken
Potential resistance: Pivot at 1149. 10 day EMA at 1150. Daily channel at 1150.
If it fails we're probably off to 1135 though.
Inv H&S forming on 5/10min - neckline 1144.50ish, if it goes target is c1150.
Long tailed doji on 30 min. Short tail doji on 10 min.
Marked Tick and RSI PD on today's low. Blow off vol on bar before 10 min doji.
5 min down trend line from yesterday broken
Potential resistance: Pivot at 1149. 10 day EMA at 1150. Daily channel at 1150.
If it fails we're probably off to 1135 though.
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stoploss please
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Hi
I have been listening in on the TTZ room on Pal Talk. The host of this has a good read of the market and makes some good calls. A lot more professional than the monkey on the Market Vu show.
I have been listening in on the TTZ room on Pal Talk. The host of this has a good read of the market and makes some good calls. A lot more professional than the monkey on the Market Vu show.
stoploss please
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anmolway
He is like any other trader. He makes some good calls and some bad ones. However he talks about some good stuff on how you evaluate market sentiment. I have only followed him for a couple of days. He has made a lot more good calls and at many times confirmed what I am thinking.
http://aolsearch.aol.co.uk/redir?ur...ch&searchType=MS&partner=Google&query=Paltalk
He is like any other trader. He makes some good calls and some bad ones. However he talks about some good stuff on how you evaluate market sentiment. I have only followed him for a couple of days. He has made a lot more good calls and at many times confirmed what I am thinking.
http://aolsearch.aol.co.uk/redir?ur...ch&searchType=MS&partner=Google&query=Paltalk
stoploss please
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ammolway
Do you trade of trin numbers.
Do you trade of trin numbers.
Yes and no, stop loss, I use CM's method to trade the dow but also keep an eye on trin and tick to keep me in the right direction.
I use trendlines on tick and trin, but they don't always work
I have only started to look at it a few months ago and would be interested how others use it.
I use trendlines on tick and trin, but they don't always work
I have only started to look at it a few months ago and would be interested how others use it.
stoploss please
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Try the VXN. Its been good recently
stoploss please
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For some reason today it has worked really well. I keep my eye on TRIN, VIX and VXN and see which one works best on the day.
stoploss please
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Supply and Demand
http://www.elitetrader.com/vb/showthread.php?s=&threadid=29005&perpage=6&pagenumber=1
This is a great resource which gets right to the fundamentals of price and volume rather like that excellent 'Dark Side' thread we had on here a while back but without the fibs, geometry etc.
The PDFs titled Demand1, 2, 3 etc. give a good description of how the underlying economic forces work while the author of the thread provides an annotated 5min chart of his interpretation of price action on NQ every day.
Def worth a look...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=29005&perpage=6&pagenumber=1
This is a great resource which gets right to the fundamentals of price and volume rather like that excellent 'Dark Side' thread we had on here a while back but without the fibs, geometry etc.
The PDFs titled Demand1, 2, 3 etc. give a good description of how the underlying economic forces work while the author of the thread provides an annotated 5min chart of his interpretation of price action on NQ every day.
Def worth a look...
Hi all,
Don't know if this will be of interest but thought I'd post it anyway. Unfortunately my data doesn't go back too far so maybe someone (Perhaps frugi as you started "fanning " the flames 😆) can add some better charts!
Hope you all had a good day with the bears. I, for one who is generally bearish by nature, was remarkably detatched from todays activity - simply trying to catch the falling knife at 1129.0! Why oh why oh why? I did know it was risky so had a tight stop which held! Should have put that sell on stop order in at 35.75 earlier then I wouldn't have been tempted!
My oh my - I DO hope I'm learning. 🙄
Cheers
Q
Don't know if this will be of interest but thought I'd post it anyway. Unfortunately my data doesn't go back too far so maybe someone (Perhaps frugi as you started "fanning " the flames 😆) can add some better charts!
Hope you all had a good day with the bears. I, for one who is generally bearish by nature, was remarkably detatched from todays activity - simply trying to catch the falling knife at 1129.0! Why oh why oh why? I did know it was risky so had a tight stop which held! Should have put that sell on stop order in at 35.75 earlier then I wouldn't have been tempted!
My oh my - I DO hope I'm learning. 🙄
Cheers
Q
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stoploss please
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Quercus, that is the third fan line break since last March.
frugi
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Not much to add I'm afraid as I have no continuous contract data in Sierra format (I'm sure there's a convertor somewhere though) so my chart only goes back to October like yours Q, although as ever we have interpreted the trend lines slightly differently! I must admit to having a grab at the knife today too and it rightly sliced me. 🙁 But, tomorrow is another day...
My chart says three fan lines gone (& the 50 EMA) - ugly.
The trendline and 38% level around 1112 look very enticing (believe it roughly corresponds with Chartman's target for the Dow) and especially so if accompanied by an RSI PD on the 30min, but we may just gap up at tomorrow's open to deny us all the chance to take a prudent long. Q's trendline comes in higher, so who knows?
But when the shorts think it's too good to be true the big boys are often only too happy to confirm their suspicions with a brutal squeeze 😀 There was a lot of selling after 8pm today and I wonder who was buying it off 'em - was it paper or smart?
Either way I reckon the bottom of the channel in mid 1130s will be tested (and fail) in the next few days.
The channel height also corresponds to a 50% rtr level, probably means little.
Tis options expiry next week so I'd expect a bit of stability from here - if there's too much movement one way the buyers might actually make money and the big writing boys can't have that!
The SPX has bounced off the long term (all time high to Oct 2002 low) 50% Fib level of 1161, throwing in a delectable bull trap for good measure on the day, and now we have sold off savagely. 1000 here we come, perhaps!
My chart says three fan lines gone (& the 50 EMA) - ugly.
The trendline and 38% level around 1112 look very enticing (believe it roughly corresponds with Chartman's target for the Dow) and especially so if accompanied by an RSI PD on the 30min, but we may just gap up at tomorrow's open to deny us all the chance to take a prudent long. Q's trendline comes in higher, so who knows?
But when the shorts think it's too good to be true the big boys are often only too happy to confirm their suspicions with a brutal squeeze 😀 There was a lot of selling after 8pm today and I wonder who was buying it off 'em - was it paper or smart?
Either way I reckon the bottom of the channel in mid 1130s will be tested (and fail) in the next few days.
The channel height also corresponds to a 50% rtr level, probably means little.
Tis options expiry next week so I'd expect a bit of stability from here - if there's too much movement one way the buyers might actually make money and the big writing boys can't have that!
The SPX has bounced off the long term (all time high to Oct 2002 low) 50% Fib level of 1161, throwing in a delectable bull trap for good measure on the day, and now we have sold off savagely. 1000 here we come, perhaps!
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Here's another way of looking at it.
The chart below is the Daily ES, and I can see a triple top. A stepped top actually, as each of the steps are relatively the same height. I posted a chart earlier on stepped tops and stepped bottoms, but those were intraday.
Working out targets for that top (ChartMan is the expert on targets so he may have a different take on it), drawing a line across the neckline, the distance A above the neckline should equal the same distance below the neckline.
Only an approximate, of course.
There could also be a neckline at 1120, which we've just hit, which would mean a bounce to 1133-ish area to form the little right shoulder. That would give a three-headed head if you see what I mean.
The chart below is the Daily ES, and I can see a triple top. A stepped top actually, as each of the steps are relatively the same height. I posted a chart earlier on stepped tops and stepped bottoms, but those were intraday.
Working out targets for that top (ChartMan is the expert on targets so he may have a different take on it), drawing a line across the neckline, the distance A above the neckline should equal the same distance below the neckline.
Only an approximate, of course.
There could also be a neckline at 1120, which we've just hit, which would mean a bounce to 1133-ish area to form the little right shoulder. That would give a three-headed head if you see what I mean.
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