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erierambler
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Everything posted by erierambler
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That's not a problem.......... erie
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Not sure what you mean. I have no pressure at all. When I post s/r for the day,(on the daily) when price hits one of these and the set up is confirmed, I take it.(it's a high probability trade ) I don't trade the rest of the day because after that trade I haven't the confidence of what I see yet.( and I'm not going to give any back) If I don't post s/r (daily)it's because I'm not sure of it so I don't trade at all, just watch and try to learn more. If by chance I do miss it , it doesn't bother me, for I'm in no hurry to get anywhere. MF Global doesn't care if I trade or not and I don't need the income right now ( but that could change ) I like the preparation , so I'm ready , but after the trade I'm not ready , if that makes any sense.
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Well I can't speak for FW, but i'm trading , not much mind you , just one trade a day when I am confident in s/r , otherwise one doesn't hear a peep out of me . erie
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One thing I learned is you take the hand you're dealt, greed gets you in trouble. erie
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The rejection this morning at 1344 created today's "R" , thanks for the chart. I did a commentary on the first hour in my blog. http://www.traderslaboratory.com/forums/blog.php?b=313 If your interested I don't want to keep posting here all the time , I might wear out my welcome erie
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Yesterday I was an observer, in otherwords I didn't really know what to do:) So today here is my chart of potential S/R on the ES.
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Thanks for the note. Now that you point it out I can see it , but this morning it was a different story I had seen price and planned ahead of time if price came back into the previous day's range I would take the trade at 1366. ( looking for confirmation of rejection ) You have this down as an art. erie
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No premarket. As I'm still evolving, only taking one trade if one presents itself, premarket doesn't interest me. It only appears 1371 was the place to be in hindsight, but I preferred some confirmation of rejection. erie
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It could be pointed out as well that even though you show a correlation between certain futures that one's strategy , exits and entries , are different for each , one reason why others see different things. When I looked at the YM, and NQ and tried to trade the ES, I only confused myself. Now I look only at the ES and only look at the others as a matter of interest, not with respect to trading. erie
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LOL, I guess not.............i was wondering how you would define rejection in this case, ex. at what point (price) would rejection be confirmed in your instance? Mine is that when price comes back to 1366 , we would have rejection. That may or may not be what happens.........
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No the question was rejection being 1366? ( your definition of rejection )
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Rejection being 1366?
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You incorporated a breakout strategy for yesterday? Hmm, maybe that's something I should give more thought....... erie
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1370-71 may be an anticipated level for tommorrow , resistance wise... erie
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Bearbull, what considerations would have you be sure the probability was to the downside? erie
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A few years ago when I tried it,( the price profile ) it didn't work like this, but now it is reliable. Might as well enjoy it while it lasts. erie
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Exactically........... erie
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I thought that yesterday eliminated a lot of supply at resistance and now we would be even more oversold . erie
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There is your S at 1920 hit, so we have the same drill again today. erie
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I can see 1920 and some of how the NQ is different from the ES , but I still have a lot to learn.... erie
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Well , tommorrow has my undivided attention erie
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If Wyckoff was a probability trader would he step up to the plate in this area?
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Again, I'm surprised there is not more participation here. For today price opened within yesterday's range on the ES, at potential support. My figures were 1370 and 1386. Price took off out of the gate and up to 1388.50 . Couldn't be easier.......... I know you like the NQ , but the drill seems to work on the ES as well. erie
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All I said was to extend a "major" trendline, the trendline gives general direction ( you've already said that ) . As far as breaching a trendline it, just shows a change in sentiment, that sentiment could be temporary and then a resumption of the major trend. It is different with short term trendlines, generally they are what they are, short term in nature. As a daytrader you basically deal with short term trendlines. erie
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If we take Db's trendline as the correct one then price is still under it, correct? erie
