TinGull

I absolutely agree, and I don't trade off of those calculated pivot levels, but do watch them to see how price acts there in case something does happen to set up. I mostly trade off the 30min hi and low.

Thanks Rajiv, I also didn't take the trade at a S/R level....was really just a stupid trade on my part.

Absolutely! That's the biggest benefit of these reversals. Just always have to keep in mind the market may want to "test" below the bar before the reversal so seek out possible sellers/buyers (opposite of whichever reversal direction) but if that happens on low volume, all the better

Good point of view MrMarcus...very well said.

I agree for the most part. I'll be looking long if we're able to break that flag pattern that has set up. That would give me cause to believe price could break 58.00. We could, of course, just gap up to there tomorrow, but I feel more like there's a slow bleeding weakness in the markets and if there is an up-day tomorrow, it's not going to be lasting too long. There's also a good chance of just rotational trading until Friday's jobs number (I hate economic data for that reason....it can slow things unnecessarily) and there is a great range set in place for that to happen between 45 and 58. I wouldn't expect either of those 2 areas to be broken tomorrow, but would expect something to happen on Friday. Either break I could see as valid, as price is holding up at the highs pretty nicely, though still is showing a potential to roll over. If price is to come back into the range set in place between 9/19 and 9/28, then I'd be watching for price to fall back to the lower end of that range around 35.00.

I'll tell ya exactly why I lost that trade......I was being naive in thinking I could call a bottom. Wasn't looking at the most obvious market cycles....

Well, a not so good trade today...would love some feedback on what I saw wrong.

Some more action from today. As price broke back down into the 30min OR after breaching it we had a nice "no supply" bar, which also formed a doji on significantly lower volume than the previous "re-entry" bar. While the next bar wasn't showing us demand in the form of volume, it did show it to us in the form of a candlestick. This is an old school 3 bar reversal if I'm not mistaken. I think the volume could have been better, and that was the reason I didn't take that trade. I *almost* did, but I like having a bit more evidence for me to get in than what presented itself on this chart.

Im such a post whore...

But now ES is running into that 58.00 level already on a 10 point range. Volume's "OK" but I don't think it'd have the steam needed to break through that heavy level right now. Plus 200% IB lies up at 59.00 and that's a potential area for the ES to show some resistance.

Very interesting stuff. I've never watched anything else for a trend. Today's got me all wacked out on the shorter time frames. 15min ES looks like a bull flag, though.

And to add to the confusing mess of it all...

HA! nice work, man. Really nice. Hopefully some day I'll be able to interpret things as you do. Love hearing your commentary.

You're good...real good.

Awesome explanation. Thanks so much!!!

If you might...would you mind going over why you feel it's setup for a good flush down? And, how do you manage your stops with overnight trades? I've never held a futures contract over night and have no clue how to deal with stops in that situation. I assume your stops are wider than normal for an overnight play? Thanks Dogpile, I appreciate it!

I assume you're talking about the PC.... :shocked:

http://www.apple.com ................ sorry, just had to. Everyone knew it was coming!

Cool Rajiv, I'll definitely keep trying to refine things as I can. I'm pretty much brand new to doing anything with stocks. Just trying to see if there's something I might better swing trade than index futs.

Well, I guess mine is kinda crude compared to yours. I basically search for high volume decliners or high volume gainers, then look at all the charts to see what chart looks appealing.

Isnt the DAX comprised of many different issues? He's wanting an indicator that shows the up volume vs the down volume of each issue within the DAX index.

Probably the amount of volume occurring on upticks and the amount of volume occurring on down ticks, I would imagine. Please correct me if I'm wrong.

Well didn't that flip around quick. Only got 3 ticks off that trade. Looks like there's still some business to be done a little lower.