sanchez

pretty big vol yest. I'd be looking at PA on any bounces either with or without vol. We've had about 1 week of movement to the downside & profit taking at some point is inevitable, especially around a dbl or triple bot. As always, LVB ( low vol bounce) into an area or resistance or 3, is always something I look for especially if we can get a vol spike on the 1 min chart to coincide with the res area. The O/N ( overnight) POC is currently at 1039 although vol is pretty evenly distr between 1039 - 1043. NPOC yest is 42.5 and NPOC above that is 62.5 & 71.5. Gap above is 70.5 NPOV below is 24.5 and 1007 with the first gap being at 995.75 with another NPOC 994.75 some HVA & LVA on the 405 min chart I posted....look to see where any #'s might overlap As always, keep an eye on yest open, hi, low and IB range(hi/low of the 1st hour of trading)...yest IB is 1037.5-1055.75 Try to have these # prior to the open and have a game plan should price come into these areas....especially the areas with the most confluence. This is not about guessing which way the mkt will go but what to do when the mkt gets to an area of interest. If u use fibs or MACD, my philosophy would be the same. Have a game plan so the only thing to do when price gets to an area u r interested in is, watch PA and make a decision to enter or wait. IF PA is 1.5 points away from your area before it makes a move to where u r interested in doing business(remember this is an auction just like ebay) and the avg swing for the day,week,month is 3.5 points, would u really want to stand in front of the the move with a resting limit order? I guess it depends on what s/r levels are above/below and how much heat u can take so it is up to each trader to find their comfort level Hope this makes sense. Good luck today. I'm off to lay a blue stone driveway...I'd rather be trading & then surfing that's for sure.:doh:

-fist pic is a daily(405 min) -2nd chart is a daily as well but u can see where all the data comes from....back to 2008 the vol u see on the chart is for all the data pulled from nov 08. -3rd chart is a 135 min(405/3=135) it breaks the day into 3 equal parts...the 81 min can be used as well (405/5=81) and it breaks up the day into 5 equal parts. the vol profile on the right on this chart represents only the vol for any visible bars. My goal here is to profile the most recent swing hi/lo so I can get a better feel for the PA directly to the left of the current PA. When this and the 405 show confluence gives me a bit more conviction. Then I look at the individual profiles on a smaller TF chart(10 or 15 min)

Itrade, your welcome but I wouldn't get too carried away. It's great to hear that the concept makes sense. We all might each trade it a bit diff but if u can remember that it's an auction and stay on that train of thought I think things will only get better. Remember, sometimes the mkt tells us to stay out.....if a trade setup isn't fairly obvious (once u r comfortable with the charts, settings and scanning routine) then it probably isn't. I need to eat and I'll post some charts later

1050.75 is gap below & so far in the overnight session the majority of the vol (POC) is at 1057 Gap above at 1087 and NPOC at 1087.5 Is this the result of news that was posted this AM or news that is calculated into price prior to the general public hearing it?? It really doesn't matter to me. If I try to guess and I'm right I'll think I have it all figured out.....until I get my ass kicked. So, I just trade where I see interest by the larger players & by watching the reactions at those levels. It has been the only thing that has given me a CONSISTENT edge & that edge is all I can rely on. Good Trading

flat overnight session. little bit of news today. consumer confidence tomorrow. I have to leave now.....running a little behind schedule. still a gap below and above as stated a few posts ago. Good trading!

Looks like the NPOC held pretty well with vol div on the 5 min chart. looking inside to the 1 min, we can see the vol surges into sup. The Q I always ask myself is, where did the vol kick in? Most people will see a red volume bar and think it's massive selling because our brains are wired for color (traffic signals etc). The 78 area above seemed to hold pretty well too but at that time of day on a Fri in the summer time I wouldn't be looking to hold on to a position for very long, if I were even trading at that point. Hope u all had a nice trading day and took off early

not gonna be around again today but have a chance to take a fast look at the mkt. -10 pt overnight range. -We have a gap at 1050.75 and a NPOC at 1062.5. -There is also good vol between 1048 -1052 area. -Dbl bot in the 1036.75-1034 area here are some of the composite hi and low vol areas on a 135 min. I use this chart because it breaks up the day session into 3 even bars....405 mins / 3= 135. Many of these hi & low vol areas are the same on a daily chart 78, 83, 88.25, 91 & 94.5-95.5 on the daily -87is gap is gap above and 87.5 is NPOC above

gap down and a low vol bounce into res. That's a red flag to the color blind. I mean Ray Charles actually called me up this AM and said, Sanchez, I can't believe what I'm seeing!! Anyway, check out what was sup yest (yellow rect w/red line) and the low vol bounce (blue rect w/white line int he vol window at the bottom) Today's vol profile was very evenly distributed so that might be a clue for tomorrow?? First chart.. The 2nd chart shows a composite of the vol @ price from the most recent swing low to swing hi...6/8 until present. Green lines I draw at hi vol areas(hvl) and red for lva The 1070-1067 area was an area that would have been on my radar. Today's highest vol area is 1069.75and we closed at 1070.25

AmCan1, I don't have a problem with Bernanke testimony days....I have a problem with Bernanke lol. The problem with news is that we don't know how far back price has been calculated in, so by the time the news comes out, the opposite often happens....bad news the mkt goes up and vice versa. I don't care what the news is, I just play the PA , fear/greed , emotions etc. I don't even look at what the news is or what the report is because it's worthless. We are the last people to see it. Do u really think that they don't have a pretty good idea what the PPI or housing # is going to be weeks before it is reported?? It's all BS The bottom line is that the mkt is like water and will seek it's own level at some point. Have those points ready and then look to trade when the mkt comes to you. Vol at price is a key way to find the sentiment of the mkt and where the bigger traders find value. Trade ur strength & if u don't find yourself trading well on helicopter Ben days then stand aside and observe the PA and forget what the news is. DON'T WATCH IT AT ALL!!!!! Just watch the PA and the levels

I just go about my biz. Today looked like another jerk off move...up 10 points and down 10 points. Not sure if the meeting was late or they just decided to F everyone almost 15 mins later. forgetting about FOMC for a min....does anyone know what the harmonic, (some call them fractals) but I just learned how to spell harmonic last week so I'm gonna go with that one, number is for the past week or so?? Fed day is like any other pre planned news release as far as I'm concerned

Looks like I won't be trading for the rest of the week. looks interesting tho rather boring the past few days. Gap at 1086 and 1050.75. 1079.25 & 1062.5 are areas as well but are they just pulling this thing in so they can take it up after FOMC...lol, Who knows, I don't try to guess any more I just trade whats in front of me and go home. Vol is stable and no real clues there. Basic summer time BS Hope you are all trading well and being patient...let the trades come to you and trade them when u have an edge.

I see an add in a post I made (post #81) And I can assure u that I did not place that add there. I'm not sure how or why this happened but I hope it does not continue as I am not affiliated with any software company nor am I trying to promote one. I will not be in the chat room for part or all of the upcoming week as I have some personal issues to attend to. Have a great weekend and good trading this week. Remember, it's FOMC week

Nope, with a bunch of other traders

why was I so quiet today you ask? I was in the chat room.

here is the hi vol area at 94.25 which I was looking for to determine whether or not I wanted to short it or not. PA at that level was the key to the entry

interesting day. I see my last post was a short at 91.25 which worked out very nicely I scaled out of most of the position but held a small portion to see if the gap might fill at 1085...A level I noted in the AM. I did short more around 93 and scaled out along the way down and got out at BE on the last small portion. I waited for the bounce (on low vol) into the 94.25 area and got short at 94. I scaled as usual....+1 on 1/2 pos, +2 on 1/4 pos. Not sure of the price I covered next but I left the remaining 12.5% of the position open to see if the gap might fill. I had an order at 85.5....2 tix in fron of the gap price of 85 but I got antsy and covered at 86.5. I was talking to a few people in the chat room so I kind of neglected my posts in here....sorry about that

es...short 91.25......................

out at entry...99....vol on the push down past the 98 pivot was weak so I pulled stop in to entry

+1 on 1/2 position and looking for 97& 96.25 next

ES short at 99..........

watching PA at the 99-1100 area for a poss short......lunch time so being cautious

gap filled at 99.75.................1105.25 gap above that

I'm still watching the gap at 99.75 but this is not the type of PA and vol that makes me eager to trade

as I mentioned this AM, I'll be looking for the vol to normalize by Tues......hopefully at this point Vol is already better than fri at this point in the session but still quite low