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goodoboy
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Everything posted by goodoboy
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exit the trade at 1351.75.
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Long 1353.50, stop at 1351. target is 1358 But I want to see 1355 break (not hold) first.
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Who are the locals? People that trade one contract?
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Thanks, makes sense. Thats funny, I was one of the 9 out of 10 guys. Market was saying sell me all week. Steve pointed that out earlier. i just caught the tail end of that short and still not catching it.
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Thanks, yes I do! What do you mean "You won't be able to do that until you clear the decks."
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Thank you TheNegotiator for your advice and comments. I can use all the advice I can get, so I want get offended. Trading before the open is something I struggle with a bit. A few weeks ago I decided to just wait from 8am central to begin. But if I see a setup I like, then its hard to not take it, even if its before the bell. Can you explain a bit about this statment "The open provides a reaction of the underlying stocks to any change in price and allows you to identify the level and type of activity of bigger players early on. It provides some structure to play off for the rest of the day too" Are you saying to let the big players make there move first? Like today at open bell, I was thinking much lower, but it was just the opposite. lol, well i guess now, it is just the opposite.
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Today was tuff day to trade.
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Thanks Josh, I respond to your comments in a few minutes long 1365.25 on a retrace at the. out 1368.25.
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short 1360, target 1352 but I exit at 1358, because 1357 did not hold. Will consider another short. I got in a bit too late on this one. Need a deeper retracement.
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Draghi speaks again!
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Thanks, What I like to do is start with the daily chart technical analysis, the move to 1 hour chart analysis, and last 15 min. I been using 15 min chart for mainly technical analysis for intraday trading. But this week I started using the 5 min chart to fine tune my entry and exit points. Do you use the 30 min chart for analysis of the bigger picture only?
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Thank you kindly for the analysis. Makes alot of good sense just watching this price action once I sit down and analyze. Josh was right, intra-day trend is not just black and white. The sellers jumped in yesterday before the bell, but what surprise me was when I woke up to see buyers was back above the 1376 area!
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Thank you Josh, Thats exactly what happen dismorning. Overnight was had good momemtum upwards, but the at open bell sellers took price down. After missing my entry long 1377 after employment numbers came out, I stayed still and was waiting for a break out, and back test, but that never happens, but sellers took it down. So I just sat still all day. Context matters!! Thanks for the point on the EMA on the 60 min. That's what I am working on some way to determine intra-day trend. I am scaling down the the 5 and 15 min chart to determine what I am looking for.
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No, I don't have a method for this besides what I mention last night. For instance, before going to bed from the criteria above, I am thinking downtrend. But I woke you and see buying momentum and price action above pivot point, etc. So now, at any pull back I want to go long. However, today at open bell, sellers just took over. Now all the criteria above is right on borderline. Price action seems to be stuck in a range. That volume profile shows good areas of price reaction.
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Thank you kindly. The ranges are tight today. A bit challenging to make any real direction.
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No trade dismorning from me on ES due to failure to breakout out of a range at about 1380.25. Will wait til news to come out and reconsider.
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Thanks, I was wondering why such a selling off. I have actually seen this in the past the day before big news (ie job numbers) where right at close price action drops hard. There are some smart people out there. Tommorow is important day IMO as far as which direction the market could go. I recall last ADP job numbers was better, but unemployment rate remained the same causing some mix price action direction that day. Either way, I will jump on board after the news and will not play the news. As far QE3, over the last 6 months Ben says the same thing "we are prepared to force actions if needed" (something like that). I don't know what he will say, but IMO, I doubt there is any QE3 coming now. We see.
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Thanks for your point. I understand some of what you wrote, but will take some reading to fully understand. I like the last statement balanced and unbalanced. What I would like to do is determine the daily (intraday) trend when I am trading. This way I am trading with the momentum of the day and not against it. I think this increase my probability of being right. So here is what I do to determine trend of the day (and which direction I should trade) and of course this method is still in testing mode: 1. I consider price behavior over night and determine whether price is above or below the pivot point. If its above = one piece evidence trend for this day is up. likewise the otherway 2. I consider LOD from previous day. If current price is above that LOD, another piece of evidence trend for this day is up. likewise the otherway 3. I use 50 ema on 60 min chart. price stays above it, more evidence trend is up for that day. likewise the other way. Thanks,
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WOW, the sellers just took the 1376 area that has being showing support the last 3 days. It will be very interesting to see if buyers can take this level again. Well, atleast to me.
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Thanks just a few questions 1. If a trader decides to buy at the VAH area 1376.50, would that be consider as a counter trend trade? Just asking.
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Thank you kindly. Good info, price action stayed within range as you mentioned. I'm not sure how you get these values, but price action stayed right in this range. The volume profile that TheNegitoar delivers per day shows these values as well. Very good.
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Exit with at 1378.75, after seeing this area did not hold. Also, exit cause inverted head and shoulders forming on the 5 min chart. Will review after market close.
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I agree, short 1380.75, stop at 1382.75, target is 1376.50. However, since this market is currently looking choppy, I will move stop to breakevn. currently watching for break of 1378.50 since saw some support here yesterday.
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Thank you very much TheNegotiator.
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7:50am central took a long at 1382.50 the pivot point was support and trend is upwards stop loss: 1380.50 results: stopped out, probably wasn't a good idea to put stop at close of yesterday price. A stop below that would have been better. Price action came right down to my stop and took me out.